92nd General Assembly
Summary of SB1846
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Senate Sponsors:
WALSH,T.

Short description: 
PENCD-ART 4-SURV SPOUSE-3% AAI                                             

Synopsis of Bill as introduced:
        Amends the Downstate Firefighters Article of the Illinois Pension      
   Code. Provides  for  a  3%  automatic  annual  increase  in  surviving      
   spouses'   pensions.   Amends   the  State  Mandates  Act  to  require      
   implementation without reimbursement. Effective immediately.                
          PENSION NOTE (Illinois Pension Laws Commission)                      
          Based on FY 1996 membership data supplied by the Department of       
          Insurance, the Commission's actuary estimates that SB 1846           
          would increase the accrued liability of the Downstate                
          Firefighters' pension funds by $175.1 million. The resulting         
          increase in total annual cost is estimated to be $17.8 million,      
          or 5.06% of payroll. The increase in accrued liability and           
          annual cost would vary by individual fund and would increase         
          commensurate with payroll.                                           
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


   END OF INQUIRY 



 Full Text  Bill Status