MCAULIFFE AND NOVAK.
PEN CD-CHGO POL-WIDOW INCREASE
Synopsis of Bill as introduced:
Amends the Chicago Police Article of the Illinois Pension Code.
Provides a compounded 3% annual increase in surviving spouse
annuities. Amends the State Mandates Act to require implementation
without reimbursement. Effective immediately.
PENSION NOTE (Pension Laws Commission)
Estimated 1st year cost of granting a non-compounded annual
increase is $3.3 million (0.5% of payroll).
PENSION NOTE, REVISED (Pension Laws Commission)
Estimated 1st year cost is $6.7 million (0.91% of payroll).
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status