BRADLEY AND MCKEON.
PEN CD-CHGO POL-TAX MULTIPLIER
Synopsis of Bill as introduced:
Amends the Chicago Police Article of the Pension Code to increase
the multiplier used to calculate the maximum allowable pension tax,
from 2.00 to 2.26. Effective immediately.
PENSION NOTE (Pension Laws Commission)
HB 3371 would significantly increase the annual employer
contributions to the Fund. Employer contributions in FY 1998,
from a tax multiplier of 2.00, totaled $118.2 million. A tax
multiplier of 2.26 would increase that amount to approximately
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