Illinois General Assembly - Bill Status for HB2957

Synopsis As Introduced
Amends the Cook County Article of the Illinois Pension Code to provide, for employees of the county department of corrections who have daily contact with prisoners and for certain adult and juvenile probation officers, the special retirement formula currently received by deputy sheriffs who are members of the county police department. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Pension Note (Pension Laws Commission)

HB 2957 would increase the accrued liability of the Fund by an estimated $34.0 million. The annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $2.8 million, and the estimated annual increase in normal cost is $2.8 million. Therefore, the estimated increase in total annual cost is $5.6 million or 0.53% of payroll. The annual cost will increase commensurate with payroll.

Actions

Date	Chamber	Action
2/21/2003	House	Filed with the Clerk by Rep. Robert Rita
2/21/2003	House	First Reading
2/21/2003	House	Referred to Rules Committee
2/26/2003	House	Assigned to Executive Committee
3/13/2003	House	Rule 19(a) / Re-referred to Rules Committee
3/17/2003	House	Pension Note Filed
1/11/2005	House	Session Sine Die

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