Springfield, IL… The House today passed legislation to address Chicago police and fire survivor’s benefits to achieve parity with the rest of the State according to Chief Co-Sponsor of the legislation, State Representative Michael McAuliffe (R-Chicago). It would correct an issue that was overlooked in previous law with the ultimate effect of increasing widow’s benefits.
“Those who put their lives on the line deserve to know that their families will be taken care of should something happen,” Rep. McAuliffe said. “This legislative change won’t be a significant financial burden on the City, but it will make a huge difference to surviving family members.”
Senate Bill 440 changes the Chicago pension codes to increase the Tier 2 survivor’s annuity as well as the Tier 1 Cost of Living Adjustment (COLA) for retirees born before January 1, 1966. It also increases the minimum annuity for widows from $1,000 a month to 125% of the Federal Poverty Level, which is $14,850 annually.
SB 440 passed the House by a vote of 86-24. It previously passed the Senate unanimously and now heads to the Governor’s desk.