91st General Assembly
Summary of HB3115
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House Sponsors:

Short description: 
PEN CD-CHGO FIRE-WIDOWS 60%                                                

Synopsis of Bill as introduced:
        Amends the Chicago Firefighter Article of  the  Illinois  Pension      
   Code.   For  surviving  spouses  of certain firefighters who die on or      
   after January 1, 2000, increases the widow's annuity from 50%  to  60%      
   of  the deceased firefighter's retirement annuity.  Provides a widow's      
   annuity for the surviving spouse of  a  firefighter  who  dies  before      
   beginning  to  receive a retirement annuity, but after separation from      
   service with at least 20 years of service credit,  if  the  separation      
   occurs  on  or  after January 1, 1990 and before attainment of age 50.      
   Amends the  State  Mandates  Act  to  require  implementation  without      
   reimbursement.  Effective immediately.                                      
          PENSION NOTE (Pension Laws Commission)                               
          HB 3115 would increase the accrued liability of the Chicago          
          Firefighters' Fund by an estimated $6.2 million. The level           
          dollar annual payment needed to amortize the estimated increase      
          in unfunded liability over 40 years is $0.5 million. The             
          estimated annual increase in normal cost is $0.3 million, or         
          0.10% of payroll. Therefore, the estimated increase in total         
          annual cost is $0.8 million, or 0.30% of payroll.                    
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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