92nd General Assembly
Summary of HB0197
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House Sponsors:

Short description: 
PEN CD-IMRF-INCR DEATH BENEFIT                                             

Synopsis of Bill as introduced:
        Amends the Illinois Municipal Retirement Fund (IMRF)  Article  of      
   the Illinois Pension Code.  Increases the death benefit from $3,000 to      
   $5,000.   Amends  the  State  Mandates  Act  to require implementation      
   without reimbursement.  Effective immediately.                              
          PENSION NOTE (Pension Laws Commission)                               
          Accoring to IMRF, increasing the death benefit to $5,000 would       
          result in an annual cost (payout) of approximately $3.6 million      
          per year. The annual cost is expected to increase, as the            
          average age of the population in IMRF will increase over time.       
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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