91st General Assembly
Status of SB1467
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RADOGNO.

   40 ILCS 5/5-167.1         from Ch. 108 1/2, par. 5-167.1                    
   40 ILCS 5/5-167.2         from Ch. 108 1/2, par. 5-167.2                    
   30 ILCS 805/8.24 new                                                        

        Amends the Chicago Police Article of the Pension Code.  Compounds      
   the automatic annual increase in retirement annuity, increases  it  to      
   3%   for   all  annuitants,  and  removes  the  30%  maximum  increase      
   limitation.  Amends the State Mandates Act to  require  implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE (Pension Laws Commission)                               
           Increase in accrued liability                   $448.4 million      
           Increase in normal cost                         $  9.8 million      
           Annual amortization payment over 40 yrs.        $ 22.6 million      
           Estimated 1st year cost (4.40% of payroll)      $ 32.4 million      
   00-01-26  S  FIRST READING                                                  
   00-01-26  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   00-01-31  S                        PENSION NOTE FILED                       
   00-01-31  S                   COMMITTEE               RULES                 
   01-01-09  S  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary