CAPPARELLI-BUGIELSKI-LYONS,JOSEPH-ACEVEDO-BURKE, MENDOZA AND SAVIANO. 40 ILCS 5/5-136.2 new 30 ILCS 805/8.26 new Amends the Chicago Police Article of the Illinois Pension Code. Provides a compounded 3% annual increase in surviving spouse annuities. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Illinois Pension Laws Commission) Based on 12/31/98 membership data, the estimated increase in accrued liability due to HB 4010 is $110.9 million. The increase in normal cost is estimated to be $1.2 million and the annual payment needed to amortize the estimated increase in the accrued liability over 40 years is $5.5 million. Therefore, the estimated 1st year cost of HB 4010 is $6.7 million, or 0.91% of payroll. JAN-29-2002 H FILED WITH CLERK JAN-29-2002 H ADDED AS A JOINT SPONSOR BUGIELSKI JAN-29-2002 H ADDED AS A JOINT SPONSOR LYONS,JOSEPH JAN-29-2002 H ADDED AS A JOINT SPONSOR ACEVEDO JAN-29-2002 H ADDED AS A JOINT SPONSOR BURKE JAN-29-2002 H ADDED AS A CO-SPONSOR MCAULIFFE JAN-29-2002 H ADDED AS A CO-SPONSOR MENDOZA JAN-29-2002 H ADDED AS A CO-SPONSOR SAVIANO JAN-29-2002 H FIRST READING JAN-29-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-15-2002 H PENSION NOTE FILED FEB-15-2002 H COMMITTEE RULES JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary