40 ILCS 5/11-134 from Ch. 108 1/2, par. 11-134
40 ILCS 5/11-145.1 from Ch. 108 1/2, par. 11-145.1
30 ILCS 805/8.25 new
Amends the Chicago Laborer Article of the Illinois Pension Code.
Increases the minimum retirement and widow's annuities for certain
classes of annuitants, beginning January 1, 2002. Amends the State
Mandates Act to require implementation without reimbursement.
PENSION NOTE (Pension Laws Commission)
According to the Funds' actuary, SB 477 would increase the
accrued liability by an estimated $73.6 million. Although the
increase in annual normal cost is estimated to be $161,000,
there would be no increase in the required annual contribu-
tions, because as of December 31, 1999, the Chicago Laborers'
Pension Fund was funded at 129.1%, with assets $380.9 million
higher than accrued liabilities.
FEB-20-2001 S FIRST READING
FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES
FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS.
MAR-01-2001 S PENSION NOTE FILED
MAR-06-2001 S TO SUBCOMMITTEE
MAR-06-2001 S COMMITTEE INS & PENS.
MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES
JAN-07-2003 S SESSION SINE DIE
END OF INQUIRY
Full Text Bill Summary