PEN CD-CHGO POL-INCR RETMT-80%
Summary
Amends the Chicago Police Article of the Illinois Pension Code to provide an increase in the retirement benefit formula. Changes the maximum annuity from 75% to 80% of average salary. Provides for 2.5% (rather than 2%) of average salary for each year of service beyond 20. Applies to persons withdrawing from service after December 31, 2003. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2003
Committee Review
Floor Vote
Governor
Introduced Feb 28, 2003
Last action Jan 11, 2005
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
17
Key actions
2
Committee
5
Jul 1, 2003
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Rules
upper
May 21, 2003
Introduced
Pension Note Filed As Introduced - Revised
upper
Mar 13, 2003
Upper · Passed
Do Pass Insurance & Pensions; 006-004-000
upper
Mar 5, 2003
Upper · Passed
To Subcommittee
upper
Feb 28, 2003
Introduced
Pension Note Filed As Introduced
upper
Feb 26, 2003
Committee
Assigned to Insurance & Pensions
upper
Feb 18, 2003
Committee
Referred to Rules
upper
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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