Synopsis As Introduced Amends the Chicago Police Article of the Illinois Pension Code. Beginning January 1, 2005, extends the 3% annual increase in retirement pensions to persons born in 1950, 1951, 1952, 1953, and 1954. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Pension Note (Commission on Gov't Forecasting and Accountability)
The fiscal impact of Senate Bill 369 has not been calculated, but would be substantial.