CAPPARELLI-SAVIANO-BUGIELSKI-BURKE-SANTIAGO, LOPEZ, MCAULIFFE
PEN CD-CHGO LABOR-COMPOUND 3%
Synopsis of Bill as introduced:
Amends the Chicago Laborer Article of the Pension Code to
compound the 3% automatic annual increase in retirement pension.
Amends the State Mandates Act to require implementation without
reimbursement. Effective immediately.
Increase in unfunded accrued liability $24.0 M
Increase in total annual cost $ 2.4 M
Increase in employer's tax levy multiple .21
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status