O'MALLEY. 40 ILCS 5/17-116.3 30 ILCS 805/8.21 new Amends the Chicago Teacher Article of the Pension Code to grant additional benefits to persons who began receiving early retirement benefits in 1993. Requires no additional contribution. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Additional year of creditable service: Increase in accrued liability $29.9 M Increase in total annual cost $ 1.5 M Increase in total annual cost as % of payroll .13% Average salary calculation using 3 years: Increase in accrued liability $71.1 M Increase in total annual cost $ 2.9 M Increase in total annual cost as % of payroll .67% PENSION NOTE, REVISED No change from previous pension note. 97-01-30 S FIRST READING 97-01-30 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-05 S ASSIGNED TO COMMITTEE INS & PENS. 97-02-26 S TO SUBCOMMITTEE 97-03-05 S PENSION NOTE FILED 97-03-05 S COMMITTEE INS & PENS. 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 97-04-30 S PENSION NOTE FILED REVISED 97-04-30 S COMMITTEE RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary