92nd General Assembly
Status of HB0406
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 Full Text  Bill Summary

   40 ILCS 5/6-141.1         from Ch. 108 1/2, par. 6-141.1                    
   30 ILCS 805/8.25 new                                                        

        Amends the Chicago Firefighter Article of  the  Illinois  Pension      
   Code.   For  the  surviving spouses of certain firefighters, 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      
          PENSION NOTE (Pension Laws Commission)                               
          Based on a December 31, 1998 actuarial valuation, HB 406 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. As annual normal cost increases        
          (as a dollar amount), the total annual cost will also increase.      
   JAN-30-2001  H  FILED WITH CLERK                                               
   JAN-30-2001  H  ADDED AS A JOINT SPONSOR                 BUGIELSKI             
   JAN-30-2001  H  ADDED AS A JOINT SPONSOR                 LYONS,JOSEPH          
   JAN-30-2001  H  ADDED AS A JOINT SPONSOR                 MCAULIFFE             
   JAN-30-2001  H  ADDED AS A JOINT SPONSOR                 BURKE                 
   JAN-30-2001  H  ADDED AS A CO-SPONSOR                    BRADLEY               
   JAN-30-2001  H  FIRST READING                                                  
   JAN-30-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-06-2001  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   FEB-08-2001  H  ADDED AS A CO-SPONSOR                    OSTERMAN              
   FEB-15-2001  H  ADDED AS A CO-SPONSOR                    MORROW                
   FEB-22-2001  H  ADDED AS A CO-SPONSOR                    HOWARD                
   FEB-22-2001  H  ADDED AS A CO-SPONSOR                    KENNER                
   MAR-16-2001  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   NOV-06-2001  H                        PENSION NOTE FILED                       
   NOV-06-2001  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary