House Sponsors: CAPPARELLI-BUGIELSKI-MCAULIFFE-LYONS,JOSEPH-BURKE, BRADLEY AND SAVIANO. Short description: PEN CD-CHGO FIRE-SALARY Synopsis of Bill as introduced: Amends the Chicago Firefighter Article of the Illinois Pension Code. Changes the definition of salary to include duty availability pay. Allows certain persons to have their salary for pension purposes retroactively adjusted to include duty availability pay previously received, upon payment of the corresponding employee contributions, without interest. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on a December 31, 2000 actuarial valuation, HB 408 would increase the accrued liability of the Chicago Firefighters' Fund by an estimated $33.0 million. The level dollar annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $2.7 million. The estimated annual increase in normal cost is $1.9 million, or 0.69% of payroll. Therefore, the estimated increase in total annual cost is $4.7 million, or 1.69% of payroll. As annual normal cost increases (as a dollar amount), the total annual cost will also increase. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status