PEN CD-ART 16-EARLY RETIRE Senate SponsorsSen. Denny Jacobs 1/11/2005SenateSession Sine Die 40 ILCS 5/16-133.2from Ch. 108 1/2, par. 16-133.230 ILCS 805/8.27 newAmends the Downstate Teachers Article of the Illinois Pension Code. Removes the deadline for application for early retirement without discount. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.Pension Note (Pension Laws Commission) The System estimates that the provisions of SB 194 will increase the accrued liability of TRS by $817 million. The increase in annual cost has not been calculated but is estimated to be substantial. Fiscal Note (Teachers' Retirement System) The legislation will result in an additional $8 million dollars in State contributions to the Teachers' Retirement System in fiscal year 2005. 2/4/2003SenateFiled with Secretary by Sen. Denny Jacobs 2/4/2003SenateFirst Reading 2/4/2003SenateReferred to Rules 2/6/2003SenateAssigned to Insurance & Pensions 2/19/2003SenatePostponed - Insurance & Pensions 2/21/2003SenatePension Note Filed As Introduced 2/27/2003SenatePostponed - Insurance & Pensions 3/5/2003SenateTo Subcommittee 3/13/2003SenateDo Pass Insurance & Pensions; 010-000-000 3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003 3/18/2003SenateFiscal Note Requested by Sen. Bill Brady 3/21/2003SenateRe-referred to Rules 3/25/2003SenateFiscal Note Filed 1/11/2005SenateSession Sine Die