92nd General Assembly
Summary of HB0266
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Short description: 
PEN CD-CHGO POLICE-DISAB ETC                                               

Synopsis of Bill as introduced:
        Amends the Chicago Police Article of the Illinois  Pension  Code.      
   Provides that if the Board finds that the disability of a policeman is      
   of  such a nature as to permanently render him or her totally disabled      
   for any service of  a  remunerative  character,  the  duty  disability      
   benefit  shall be 75% of the current salary attached from time to time      
   to the rank held by the policeman at the  time  of  removal  from  the      
   police   department  payroll.   Removes  the  earnings  limitation  on      
   disability benefits.  Increases the child's  duty  disability  pension      
   from  $30  to $100.  Raises the minimum duty disability provision from      
   50% to 60% of current salary and makes it apply to benefits that  have      
   been  payable  for  7  (rather  than 10) years.  Increases the child's      
   occupational disease disability pension from $50 to $100.  Makes  some      
   of  these  changes  retroactive  to January 1, 2000.  Removes the date      
   restriction in a provision relating to  credit  for  service  while  a      
   member  of  the  General  Assembly.  Extends the 3% annual increase in      
   retirement pension to persons born in 1945, 1946, 1947, 1948, or 1949.      
   Amends the  State  Mandates  Act  to  require  implementation  without      
   reimbursement.  Effective immediately.                                      
          PENSION NOTE (Pension Laws Commission)                               
          Based on 12/31/98 membership data, the estimated increase            
          in accrued liability due to HB 0266 is $141.5 million. The           
          increase in normal cost is estimated to be $3.1 million and          
          the annual payment needed to amortize the estimated increase         
          in accrued liability over 40 years is $7.0 million. Therefore,       
          the estimated lst year cost of HB 0266 is estimated to be            
          $10.1 million, or 1.38% of payroll.                                  
        HOUSE AMENDMENT NO. 1.                                                 
        In the provisions affecting the automatic annual increase,  makes      
   the  changes  retroactive  to  January  1, 2000 rather than January 1,      
Last action on Bill: PUBLIC ACT.............................. 92-0052

   Last action date: JUL-12-2001

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


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