Senate Sponsors: RADOGNO. Short description: PEN CD-CHGO POL-WIDOW INCREASE Synopsis of Bill as introduced: 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. 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 Full Text Bill Status