92nd General Assembly
Summary of HB4142
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Short description: 
PEN CD-CHGO FIRE-WIDOW MINIMUM                                             

Synopsis of Bill as introduced:
        Amends the Chicago Firefighter Article of  the  Illinois  Pension      
   Code.    Increases  the minimum widow's annuity to $1,000 per month on      
   January 1, 2003 and to $1,200 per month on January  1,  2004  for  all      
   surviving   spouses.    Amends  the  State  Mandates  Act  to  require      
   implementation without reimbursement.  Effective immediately.               
          PENSION NOTE (Illinois Pension Laws Commission)                      
          The fiscal impact of HB 4142 has not been determined. According      
          to the Fund's actuary, similar legislation would increase the        
          accrued liability of the Fund by an estimated $32.6 million.         
          The level dollar annual payment needed to amortize this es-          
          timated increase in unfunded liability over 40 years is $2.2         
          million. There is no increase in normal cost associated with         
          HB 4142, as it only affects current widows.                          
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