LYONS,JOSEPH-BUGIELSKI-CAPPARELLI-MCAULIFFE-ACEVEDO AND LANG.
PEN CD-CHI POL-SALARY-OVERTIME
Synopsis of Bill as introduced:
Amends the Chicago Police Article of the Illinois Pension Code to
allow overtime pay to be included in the calculation of salary for
pension purposes. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
PENSION NOTE (Pension Laws Commission)
The fiscal impact of HB 4063 has not been calculated, but could
be significant. Additional employer contributions would be
required, as employer contributions to the Chicago Police
Pension Fund are based on employee contributions from two years
prior. HB 4063 increases employee contributions beginning
January 1, 2003.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status