BRADLEY AND MCKEON.
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)
The estimated increase in accrued liability due to HB 3367 is
$110.9 million, with an estimated increase in normal cost of
$1.2 million. The estimated 1st year cost is $6.7 million, or
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