91st General Assembly Summary of SB0067    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
RADOGNO.

Short description: 
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 (Ill. Pension Laws Commission)                          
          SB 67 would significantly increase annual employer contribu-         
          tions. In FY97, employer contributions totaled $109 million          
          with a tax multiplier of 2.00. A tax multiplier of 2.26 would        
          generate employer contributions of $123 million.                     
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

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


   END OF INQUIRY 


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