House Sponsors: CAPPARELLI-MCAULIFFE-BUGIELSKI-LYONS,JOSEPH-LOPEZ, BURKE AND ACEVEDO. Short description: PEN CD-CHGO POL-3% COMPOUNDED Synopsis of Bill as introduced: Amends the Chicago Police Article of the Illinois Pension Code. Compounds the automatic annual increase in retirement annuity, increases it to 3% for all annuitants, and removes the 30% maximum increase limitation. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Total annual cost is $10.7 million (2.77% of payroll). PENSION NOTE, REVISED (Pension Laws Commission) Estimated 1st year cost is $32.4 million (4.40% of payroll). Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status