92nd General Assembly
Summary of HB1861
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House Sponsors:

Short description: 
PEN CD-CHGO POL-DUTY DISAB                                                 

Synopsis of Bill as introduced:
        Amends the Chicago Police Article of the Illinois  Pension  Code.      
   Increases  the  duty  disability  benefit to 75% of the current salary      
   attached from time to time to the rank held by the  policeman  at  the      
   time  of removal from the police department payroll; makes this change      
   retroactive to January 1, 2001.  Increases the child's duty disability      
   and occupational disease disability pension to $100; makes this change      
   retroactive to January 1, 2000.  Amends  the  State  Mandates  Act  to      
   require implementation without reimbursement.  Effective immediately.       
          PENSION NOTE (Pension Laws Commission)                               
          According to an analysis prepared by the Fund's actuary (based       
          on 12/31/98 membership data), the estimated increase in accrued      
          liability due to HB 1861 is $141.5 million. The increase in          
          normal cost is estimated to be $3.1 million and the annual           
          payment needed to amortize the estimated increase in the             
          accrued liability over 40 years is $7.0 million. Therefore,          
          the estimated first year cost of HB 1861 is $10.1 million,           
          or 1.38% of payroll. As payroll grows, the annual cost will          
          increase commensurate with payroll.                                  
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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