Bill Status of HB0389  93rd General Assembly

Short Description:  PEN CD-CHGO FIRE-ANNUAL INCR

House Sponsors
Rep. Richard T. Bradley - Joseph M. Lyons - Ralph C. Capparelli - Daniel J. Burke - Susana Mendoza, Edward J. Acevedo, John A. Fritchey, Kevin Joyce, Michael P. McAuliffe, Robert S. Molaro, Angelo Saviano, Lou Lang and Robert Rita

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/6-164from Ch. 108 1/2, par. 6-164
30 ILCS 805/8.27 new


Synopsis As Introduced
Amends the Chicago Firefighter Article of the Illinois Pension Code. Compounds the automatic annual increase in retirement annuity. For firemen born on or after January 1, 1945 and before January 1, 1955, increases the automatic annual increase in retirement annuity to 3%, removes the 30% maximum, and permits the initial increase at age 55. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

 Pension Note (Pension Laws Commission)
 Would increase the accrued liability by estimated $39.8 million. The annual payment needed to amortize the increased liability over 40 yrs. is $3.3 million. The estimated increase in normal cost is $0.9 million, or 0.34% of payroll. Therefore, the estimated increase in total annual cost is $4.2 million, or 1.52% of payroll.

Actions 
DateChamber Action
  1/29/2003HouseFiled with the Clerk by Rep. Richard T. Bradley
  1/29/2003HouseChief Co-Sponsor Rep. Joseph M. Lyons
  1/29/2003HouseChief Co-Sponsor Rep. Ralph C. Capparelli
  1/29/2003HouseChief Co-Sponsor Rep. Daniel J. Burke
  1/29/2003HouseChief Co-Sponsor Rep. Susana Mendoza
  1/29/2003HouseCo-Sponsor Rep. Edward J. Acevedo
  1/29/2003HouseCo-Sponsor Rep. John A. Fritchey
  1/29/2003HouseCo-Sponsor Rep. Kevin Joyce
  1/29/2003HouseCo-Sponsor Rep. Michael P. McAuliffe
  1/29/2003HouseCo-Sponsor Rep. Robert S. Molaro
  1/29/2003HouseCo-Sponsor Rep. Angelo Saviano
  1/29/2003HouseFirst Reading
  1/29/2003HouseReferred to Rules Committee
  2/4/2003HouseAssigned to Executive Committee
  2/6/2003HouseAdded Co-Sponsor Rep. Lou Lang
  2/6/2003HouseAdded Co-Sponsor Rep. Robert Rita
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  5/19/2003HousePension Note Filed
  1/11/2005HouseSession Sine Die