LYONS,JOSEPH AND O'BRIEN.
PEN CD-CHGO LABOR-15 YR VEST
Synopsis of Bill as introduced:
Amends the Chicago Laborer Article of the Pension Code to require
15 (rather than 20) years of service to qualify for the minimum
retirement and widow annuities. Amends the State Mandates Act to
require implementation without reimbursement. Effective immediately.
Increase in unfunded accrued liability $ 4.2 M
Increase in employer's normal cost $ .6 M
Increase in employer's tax levy multiple .06
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