Illinois General Assembly - Bill Status for HB2467

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Bill Status of HB2467 93rd General Assembly

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Short Description: PEN CD-DNST POL-4% ANNUAL INCR

House Sponsors
Rep. Frank J. Mautino

Last Action

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

Statutes Amended In Order of Appearance

40 ILCS 5/3-111.1

from Ch. 108 1/2, par. 3-111.1

30 ILCS 805/8.27 new

Synopsis As Introduced
Amends the Downstate Police Article of the Illinois Pension Code. Increases the rate of automatic annual increase in retirement pension from 3% to 4%. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

	Pension Note (Pension Laws Commission)
	Based on 1996 membership data for all Downstate Police pension funds provided by the Department of Insurance, the Commission's actuary estimates HB 2467 would increase the accrued liability of the funds by $354.3 million. The estimated increase in total annual costs is $31.7 million or 5.35% of payroll. The annual cost would vary widely by employer and increase commensurate with payroll.

Actions

Date	Chamber	Action
2/20/2003	House	Filed with the Clerk by Rep. Frank J. Mautino
2/20/2003	House	First Reading
2/20/2003	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
3/24/2003	House	Pension Note Filed
1/11/2005	House	Session Sine Die

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