PEN CD-DNST FIRE-INCR FORMULA
Synopsis of Bill as introduced:
Amends the Downstate Firefighter Article of the Pension Code.
Increases the pension formula from 2% to 2.5% of salary for the 21st
through 30th year of service. Amends the State Mandates Act to
require implementation without reimbursement. Effective immediately.
PENSION IMPACT NOTE
Increase in total actuarial liability $32.8 M
Increase in total costs 3.3 M
Increase in total annaul cost as % of payroll 1.09%
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