92nd General Assembly
Status of HB1877
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 Full Text  Bill Summary

   40 ILCS 5/5-114           from Ch. 108 1/2, par. 5-114                      

        Amends the Chicago Police Article of the Illinois Pension Code to      
   limit the salary for pension purposes of persons  first  appointed  to      
   non-civil  service  positions  after  December 31, 2001 to the highest      
   civil service captain's salary.  Effective immediately.                     
          PENSION NOTE (Pension Laws Commission)                               
          According to an analysis prepared by the Fund's actuary (based       
          on 12/31/98 membership data), the estimated decrease in accrued      
          liability due to HB 1877 is $7.0 million. The decrease in            
          normal cost is estimated to be $0.2 million and decrease in the      
          annual payment due to the estimated reduction in the accrued         
          liability is $0.3 million. Therefore, the estimated reduction        
          in annual cost in the first year due to HB1877 is $0.5 million,      
          or 0.07% of payroll. As payroll grows, the annual savings will       
          increase commensurate with payroll.                                  
   FEB-16-2001  H  FILED WITH CLERK                                               
   FEB-16-2001  H  ADDED AS A JOINT SPONSOR                 CAPPARELLI            
   FEB-16-2001  H  ADDED AS A JOINT SPONSOR                 BUGIELSKI             
   FEB-16-2001  H  ADDED AS A JOINT SPONSOR                 SAVIANO               
   FEB-16-2001  H  ADDED AS A JOINT SPONSOR                 LYONS,JOSEPH          
   FEB-16-2001  H  FIRST READING                                                  
   FEB-16-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-21-2001  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   MAR-16-2001  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   MAR-30-2001  H                        PENSION NOTE FILED                       
   MAR-30-2001  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary