PEN CD-COOK CO-DEPUTY ANNUITY House SponsorsRep. Robert S. Molaro 1/11/2005HouseSession Sine Die 40 ILCS 5/9-134from Ch. 108 1/2, par. 9-13430 ILCS 805/8.27 new Amends the Cook County Article of the Illinois Pension Code. Provides that a deputy sheriff or correctional officer who retires on or after July 1, 2004 with 20 or more years of service may elect to receive an alternate annuity without reduction at age 50. Provides that a person who makes such an election is ineligible for certain optional credit. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.Pension Note (Pension Laws Commission) HB 2144 would increase the accrued liability of the Fund by an estimated $53.4 million. The annual payment needed to amortize the estimated increase in unfunded liability over 40 years is $4.5 million, and the estimated annual increase in normal cost is $4.1 million. Therefore, the estimated increase in total annual cost is $8.6 million, or 0.74% of payroll. The annual cost will increase commensurate with payroll. 2/11/2003HouseFiled with the Clerk by Rep. Robert S. Molaro 2/11/2003HouseFirst Reading 2/11/2003HouseReferred to Rules Committee 2/19/2003HouseAssigned to Executive Committee 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 3/17/2003HousePension Note Filed 1/11/2005HouseSession Sine Die