91st General Assembly
Summary of HB0441
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House Sponsors:

Short description: 
PEN CD-IMRF-COMPOUND 3% INCR                                               

Synopsis of Bill as introduced:
        Amends the IMRF Article of the Illinois Pension Code to compound       
   the automatic annual increase in retirement, incremental, disability,       
   and survivor annuities. Amends the State Mandates Act to require            
   implementation without reimbursement.  Effective immediately.               
          PENSION NOTE (Pension Laws Commission)                               
          Total annual cost of HB441 is 0.91% of total IMRF active member      
          payroll, but required contributions (as % of payroll) would          
          vary among employers.                                                
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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