RADOGNO. 40 ILCS 5/5-136.2 new 30 ILCS 805/8.26 new Amends the Chicago Police Article of the Illinois Pension Code. Provides a compounded 3% annual increase in surviving spouse annuities. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on 12/31/98 membership data, the estimated increase in accrued liability due to SB 1599 is $110.9 million. The increase in normal cost is estimated to be $1.2 million and the annual payment needed to amortize the estimated increase in the accrued liability over 40 years is $5.5 million. There- fore, the estimated 1st year cost of SB 1599 is $6.7 million, or 0.91% of payroll. JAN-29-2002 S FIRST READING JAN-29-2002 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 END OF INQUIRY Full Text Bill Summary