91st General Assembly
Summary of HB2622
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House Sponsors:

Short description: 
PEN CD-DNST FIRE-RETMT INCR                                                

Synopsis of Bill as introduced:
        Amends the Downstate Firefighter Article of the Illinois Pension       
   Code. Increases the retirement formula from 2.0% to 2.5% of salary for      
   each year of service over 20. Amends the State Mandates Act to require      
   implementation without reimbursement.  Effective immediately.               
          PENSION NOTE (Pension Laws Commission)                               
          The estimated increase in accrued liability of all Downstate         
          Firefighters' Pension Funds is $36.8 million. The increase in        
          annual cost is estimated to be $3.8 million, or 1.09% of pay-        
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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