IL SB2834

Requires Chicago to deposit a minimum of 20% of all proceeds from newly established gaming revenue sources (from legislation enacted in 2014 or later) into the Chicago Police and Firefighter pension funds.

These gaming revenue deposits must continue until an independent actuarial organization mutually agreed upon by the city and employee representatives deems the funds have been stabilized.

The additional gaming revenue deposits are intended for emergency stabilization of the pension funds and do not reduce other required city pension contributions.

Amends the State Mandates Act to exempt this bill from state reimbursement requirements.

Effective immediately upon becoming law.