92nd General Assembly
Summary of HB4011
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
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.  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 4011 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 accrued liability over 40 years is $7.0 million. Therefore,       
          the 1st year cost of HB 4011 is estimated to be $10.1 million,       
          or 1.38% of 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


 Full Text  Bill Status