MENDOZA AND SAVIANO.
40 ILCS 5/5-154 from Ch. 108 1/2, par. 5-154
30 ILCS 805/8.26 new
Amends the Chicago Police Article of the Illinois Pension Code.
Increases the duty disability benefit to 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; makes this change
retroactive to January 1, 2001. Amends the State Mandates Act to
require implementation without reimbursement. Effective immediately.
PENSION NOTE (Illinois Pension Laws Commission)
Based on 12/31/98 membership data, the estimated increase in
accrued liability due to HB 4011 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 1st year cost of HB 4011 is estimated to be $10.1 million,
or 1.38% of payroll.
JAN-29-2002 H FILED WITH CLERK
JAN-29-2002 H ADDED AS A JOINT SPONSOR BUGIELSKI
JAN-29-2002 H ADDED AS A JOINT SPONSOR ACEVEDO
JAN-29-2002 H ADDED AS A JOINT SPONSOR BURKE
JAN-29-2002 H ADDED AS A JOINT SPONSOR LYONS,JOSEPH
JAN-29-2002 H ADDED AS A CO-SPONSOR MCAULIFFE
JAN-29-2002 H ADDED AS A CO-SPONSOR MENDOZA
JAN-29-2002 H ADDED AS A CO-SPONSOR SAVIANO
JAN-29-2002 H FIRST READING
JAN-29-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES
FEB-15-2002 H PENSION NOTE FILED
FEB-15-2002 H COMMITTEE RULES
JAN-07-2003 H SESSION SINE DIE
END OF INQUIRY
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