LYONS,JOSEPH-CAPPARELLI-BRADLEY-BURKE-MCAULIFFE. 40 ILCS 5/6-128 from Ch. 108 1/2, par. 6-128 30 ILCS 805/8.25 new Amends the Chicago Firefighter Article of the Illinois Pension Code to base retirement benefits on the highest 36 months, rather than 4 years, of salary within the last 10 years of service. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on a December 31, 2000 actuarial valuation, HB 419 would increase the accrued liability of the Chicago Firefighters' Fund by an estimated $17.2 million. The level dollar annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $1.4 million. The estimated annual increase in normal cost is $0.7 million, or 0.26% of payroll. Therefore, the estimated increase in total annual cost is $2.1 million, or 0.77% of payroll. As annual normal cost increases (as a dollar amount), the total annual cost will also increase. JAN-30-2001 H FILED WITH CLERK JAN-30-2001 H ADDED AS A JOINT SPONSOR CAPPARELLI JAN-30-2001 H ADDED AS A JOINT SPONSOR BRADLEY JAN-30-2001 H ADDED AS A JOINT SPONSOR BURKE JAN-30-2001 H ADDED AS A JOINT SPONSOR MCAULIFFE JAN-30-2001 H FIRST READING JAN-30-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-06-2001 H ASSIGNED TO COMMITTEE PERS PENSION MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL OCT-31-2001 H PENSION NOTE FILED OCT-31-2001 H COMMITTEE RULES JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary