PENCD-CHGO FIRE-COMPOUND 1965 House SponsorsRep. Kevin Joyce 1/9/2007HouseSession Sine Die 40 ILCS 5/6-164from Ch. 108 1/2, par. 6-16430 ILCS 805/8.30 new Amends the Chicago Firefighter Article of the Illinois Pension Code. Increases the required employee contribution by 0.5% of salary. Compounds the 3% automatic annual increase in retirement annuity for members who have paid the increased contribution for at least one year. Allows certain persons no longer in service to elect to pay an additional contribution and thereby qualify for the compounding. For firemen born on or after January 1, 1955 and before January 1, 1965, increases the automatic annual increase in retirement annuity to 3%, removes the 30% maximum, and permits the initial increase at age 55. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 1/27/2006HouseFiled with the Clerk by Rep. Kevin Joyce 1/27/2006HouseFirst Reading 1/27/2006HouseReferred to Rules Committee 1/9/2007HouseSession Sine Die