Illinois General Assembly - Bill Status for HB5562
Illinois General Assembly

Previous General Assemblies

 Bill Status of HB5562  94th General Assembly


Short Description:  PENCD-CHGO FIRE-COMPOUND 1965

House Sponsors
Rep. Kevin Joyce

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/6-164from Ch. 108 1/2, par. 6-164
30 ILCS 805/8.30 new


Synopsis As Introduced
Amends the Chicago Firefighter Article of the Illinois Pension Code. Increases the required employee contribution by 0.5% of salary. Compounds the 3% automatic annual increase in retirement annuity for members who have paid the increased contribution for at least one year. Allows certain persons no longer in service to elect to pay an additional contribution and thereby qualify for the compounding. For firemen born on or after January 1, 1955 and before January 1, 1965, increases the automatic annual increase in retirement annuity to 3%, removes the 30% maximum, and permits the initial increase at age 55. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/27/2006HouseFiled with the Clerk by Rep. Kevin Joyce
  1/27/2006HouseFirst Reading
  1/27/2006HouseReferred to Rules Committee
  1/9/2007HouseSession Sine Die

Back To Top