90th General Assembly Summary of HB0226    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
CAPPARELLI-BUGIELSKI-BURKE-SANTIAGO-LOPEZ AND LYONS,JOSEPH.

Short description: 
PEN CD-CHGO FIRE-ANNUAL INCR                                               

Synopsis of Bill as introduced:
        Amends the Chicago Firefighter Article of  the  Pension  Code  to      
   extend the 3% annual increase to all persons who retire after December      
   31,  1997, beginning at age 55.  Compounds the annual increase for all      
   retirement annuitants beginning at age 60.  Amends the State  Mandates      
   Act   to  require  implementation  without  reimbursement.   Effective      
   immediately.                                                                
          PENSION NOTE                                                         
           Increase in accrued liability                          $25.2 M      
           Increase in total annual cost                          $ 4.0 M      
           Increase in total annual cost as % of payroll            1.76%      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

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


   END OF INQUIRY 


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