House Sponsors: FRITCHEY-CAPPARELLI-BUGIELSKI-BRADLEY-BURKE. Short description: PEN CD-CHGO FIRE-80% MAXIMUM Synopsis of Bill as introduced: Amends the Chicago Firefighter Article of the Illinois Pension Code to increase the maximum retirement annuity, duty disability benefit, and duty death benefit from 75% to 80% of salary. Also makes technical changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Illinois Pension Laws Commission) According to an analysis prepared by the Fund's actuary (based on the December 31, 2000 actuarial valuation), HB 4197 would increase the accrued liability of the Chicago Firefighters' Fund by an estimated $15.8 million. The level dollar annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $1.3 million. The estimated annual increase in normal cost is $1.6 million, or 0.58% of payroll. Therefore, the estimated increase in total annual cost is $2.9 million, or 1.07% of payroll. As annual normal cost in- creases (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