92nd General Assembly
Summary of SB0484
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Senate Sponsors:
VIVERITO.

Short description: 
PEN CD-COOK CO-OPTIONAL PLAN                                               

Synopsis of Bill as introduced:
        Amends the Cook County Article of  the  Illinois  Pension  Code.       
   Extends  to July 1, 2005 the expiration date of the plan of additional      
   benefits and contributions.  Amends the State Mandates Act to  require      
   implementation without reimbursement.  Effective immediately.               
          PENSION NOTE (Illinois Pension Laws Commission)                      
          The Fund's actuary has estimated that extending the optional         
          plan and providing an ERI (per SB 485) would increase the            
          accrued liability of the Fund by $225 million. The estimated         
          increase in total annual cost is $26.7 million, or 2.30% of          
          payroll. The impact of only extending the optional plan of           
          additional benefits has not been calculated.                         
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

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


   END OF INQUIRY 



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