Senate Sponsors: MADIGAN,R-NOLAND AND BOWLES. Short description: PEN CD-DNST TCH-34 YRS ANY AGE Synopsis of Bill as introduced: Amends the Downstate Teacher Article of the Illinois Pension Code to allow retirement at any age with 34 years of service. Effective immediately. PENSION NOTE (Pension Laws Commission) SB 1703 would increase the accrued liability of TRS by an estimated $250 million. The fiscal impact of SB 1703 includes two components -- $63 million is the cost of the existing Early Retirement Option, available through 2005, and $187 million is the additional cost for a permanent 34-and-out provision. 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