Senate Sponsors: RADOGNO. Short description: PEN CD-CHGO POL-SALARY Synopsis of Bill as introduced: Amends the Chicago Police Article of the Pension Code to base retirement benefits on the highest 12 months, rather than 4 years, of salary within the last 10 years of service, for persons retiring after December 31, 2000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Increase in accrued liability $161.2 million Increase in normal cost $ 5.9 million Annual amortization payment over 40 yrs. $ 8.2 million Estimated 1st year cost (1.92% of payroll) $ 14.1 million Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status