House Sponsors: MADIGAN,MJ-DANIELS-CAPPARELLI-DAVIS,MONIQUE-ACEVEDO, MENDOZA, DELGADO, LYONS,JOSEPH, COLLINS, GILES, BUGIELSKI AND SOTO. Senate Sponsors: MADIGAN,R-PHILIP-ROSKAM-MOLARO-LIGHTFORD Short description: PEN CD-CHGO FIRE-WIDOW ANNUITY Synopsis of Bill as introduced: Amends the Chicago Firefighter Article of the Illinois Pension Code. Removes a provision that decreases the duty death annuity on the date when the deceased fireman would have reached mandatory retirement age; makes the resulting increase retroactive to January 1, 2001. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on the December 31, 1999 actuarial valuation, HB 254 would increase the accrued liability of the Fund by an esti- mated $18.3 million. The level dollar annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $1.5 million. The estimated annual increase in normal cost is $0.2 million (0.08% of payroll). Therefore, the esti- mated increase in total annual cost is $2.7 million, or 0.63% of payroll. Last action on Bill: PUBLIC ACT.............................. 92-0050 Last action date: JUL-12-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status