92nd General Assembly
Summary of HB0421
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House Sponsors:

Short description: 
PEN CD-CHGO FIRE-PARAMEDICS                                                

Synopsis of Bill as introduced:
        Amends the Chicago Firefighter and Municipal Employee Articles of      
   the Illinois Pension Code to require  the  Chicago  municipal  pension      
   fund to transfer to the Chicago  firefighter pension fund certain city      
   contributions  relating  to paramedics.  Amends the State Mandates Act      
   to   require   implementation   without   reimbursement.     Effective      
          PENSION NOTE (Pension Laws Commission)                               
          According to an analysis prepared by the Fund's actuary,             
          HB 0421 would decrease the unfunded liability of the Chicago         
          Firefighers' Fund by an estimated $17.8 million. The $17.8           
          million matches an amount that would be transferred from the         
          Chicago Municipal Fund, based on the contributions of 380            
          paramedics who took refunds from the Chicago Municipal Fund          
          in 1984, and who are currently participating in the Chicago          
          Firefighters' Fund. The unfunded liability of the Chicago            
          Municipal Fund would increase by the same amount.                    
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


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