92nd General Assembly
Status of SB1846
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Summary

   40 ILCS 5/4-109.1         from Ch. 108 1/2, par. 4-109.1                    
   30 ILCS 805/8.26 new                                                        

        Amends the Downstate Firefighters Article of the Illinois Pension      
   Code. Provides  for  a  3%  automatic  annual  increase  in  surviving      
   spouses'   pensions.   Amends   the  State  Mandates  Act  to  require      
   implementation without reimbursement. Effective immediately.                
          PENSION NOTE (Illinois Pension Laws Commission)                      
          Based on FY 1996 membership data supplied by the Department of       
          Insurance, the Commission's actuary estimates that SB 1846           
          would increase the accrued liability of the Downstate                
          Firefighters' pension funds by $175.1 million. The resulting         
          increase in total annual cost is estimated to be $17.8 million,      
          or 5.06% of payroll. The increase in accrued liability and           
          annual cost would vary by individual fund and would increase         
          commensurate with payroll.                                           
   FEB-06-2002  S  FIRST READING                                                  
   FEB-06-2002  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-15-2002  S                        PENSION NOTE FILED AS INTRODUCED         
   FEB-15-2002  S                   COMMITTEE               RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               


 Full Text  Bill Summary