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Home > Illinois > SB1198
Chief Sponsor:

James A. DeLeo

Tagged in: Chicago

Latest Update: Tuesday, December, 02nd 2008

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PEN CD-CHGO POL-INCR RETMT-80%

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 the effective date. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
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Latest Actions
  • 03/16/2007 - Rule 3-9(a) / Re-referred to Rules
  • 02/21/2007 - Assigned to Pensions and Investments
  • 02/08/2007 - Filed with Secretary by Sen. James A. DeLeo
  • 02/08/2007 - First Reading
  • 02/08/2007 - Referred to Rules
Bill Text
File name Last Updated
SB1198 Bill Text Introduced PDF07/03/2007