92nd General Assembly Summary of SB1598    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
RADOGNO.

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, 2002 to the highest      
   civil service captain's salary.  Effective immediately.                     
          PENSION NOTE (Pension Laws Commission)                               
          Based on 12/31/98 membership data, the estimated decrease in         
          accrued liability due to SB 1598 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 accrued         
          liability is $0.3 million. Therefore, the estimated reduction        
          in annual cost in the 1st year due to SB 1598 is $0.5 million,       
          or 0.07% 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


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