Bill Status of HB4932 102nd General Assembly
Short Description: PEN CD-CHGO POL-INCR RETMT-80%
Rep. Kevin Joyce - Michael P. McAuliffe - Daniel J. Burke
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Chicago Police Article of the Illinois Pension Code to provide an increase in the retirement benefit formula. Changes the maximum annuity from 75% to 80% of average salary. Provides for 2.5% (rather than 2%) of average salary for each year of service beyond 20. Applies to persons withdrawing from service after the effective date. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.