Illinois General Assembly - Bill Status for HB2621

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Bill Status of HB2621 93rd General Assembly

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

House Sponsors
Rep. Michael K. Smith

Last Action

Date	Chamber	Action
1/11/2005	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/4-109.1

from Ch. 108 1/2, par. 4-109.1

30 ILCS 805/8.27 new

Synopsis 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 (Pension Laws Commission)

Based on FY 1996 membership data supplied by the Department of Insurance, the Commission's actuary estimates that HB 2621 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.

Actions

Date	Chamber	Action
2/21/2003	House	Filed with the Clerk by Rep. Michael K. Smith
2/21/2003	House	First Reading
2/21/2003	House	Referred to Rules Committee
2/26/2003	House	Assigned to Executive Committee
2/28/2003	House	Pension Note Filed
3/13/2003	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2005	House	Session Sine Die

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