Synopsis As Introduced Amends the Chicago Firefighter Article of the Illinois Pension Code. Allows a fireman who was employed by the Chicago Fire Department and either (i) did not participate in a pension fund under the Code or (ii) participated in the pension fund established under the Chicago Municipal Article, terminated that service, and received a refund to establish the service under the Chicago Firefighter Article. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
House Committee Amendment No. 1 Replaces everything after the enacting clause with the introduced bill with the following changes. Changes the contributions required to establish the service and changes the interest rates to interest at the actuarially assumed rate. Effective immediately.