House Sponsors: CAPPARELLI-BUGIELSKI-LYONS,JOSEPH-MCAULIFFE-BURKE, OSTERMAN, MORROW, HOWARD AND KENNER. Short description: PEN CD-CHGO FIRE-WIDOWS 60% Synopsis of Bill as introduced: Amends the Chicago Firefighter Article of the Illinois Pension Code. For the surviving spouses of certain firefighters, increases the widow's annuity from 50% to 60% of the deceased firefighter's retirement annuity. Provides a widow's annuity for the surviving spouse of a firefighter who dies before beginning to receive a retirement annuity, but after separation from service with at least 20 years of service credit, if the separation occurs on or after January 1, 1990 and before attainment of age 50. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on a December 31, 1998 actuarial valuation, HB 406 would increase the accrued liability of the Chicago Firefighters' Fund by an estimated $6.2 million. The level dollar annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $0.5 million. The estimated annual increase in normal cost is $0.3 million, or 0.10% of payroll. Therefore, the estimated increase in total annual cost is $0.8 million, or 0.30% of payroll. As annual normal cost increases (as a dollar amount), the total annual cost will also increase. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status