92nd General Assembly
Summary of HB1877
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
House Sponsors:

Short description: 
PEN CD-CHGO POL-BRASS SALARY                                               

Synopsis of Bill as introduced:
        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.                                  
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: House

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


 Full Text  Bill Status