CAPPARELLI-SAVIANO-BUGIELSKI-LYONS,JOSEPH-BURKE, ACEVEDO, GRANBERG, MCAULIFFE, SANTIAGO AND TURNER,ART. 40 ILCS 5/5-132 from Ch. 108 1/2, par. 5-132 40 ILCS 5/5-148 from Ch. 108 1/2, par. 5-148 30 ILCS 805/8.22 new Amends the Chicago Police Article of the Pension Code to provide an increase in the retirement benefit formula. Changes the maximum annuity from 75% to 80% of average salary. Provides for 2.5% (rather than 2%) of average salary for each year of service beyond 20. Applies to persons withdrawing from service after December 31, 1998. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE First year cost is $9.8 million, or 1.46% of payroll; annual cost will increase as payroll grows. 98-01-27 H FILED WITH CLERK 98-01-27 H ADDED AS A JOINT SPONSOR SAVIANO 98-01-27 H ADDED AS A CO-SPONSOR BUGIELSKI 98-01-27 H ADDED AS A CO-SPONSOR BURKE 98-01-27 H ADDED AS A CO-SPONSOR ACEVEDO 98-01-27 H ADDED AS A CO-SPONSOR DART 98-01-27 H ADDED AS A CO-SPONSOR GRANBERG 98-01-27 H ADDED AS A CO-SPONSOR LYONS,JOSEPH 98-01-27 H ADDED AS A CO-SPONSOR MCAULIFFE 98-01-27 H ADDED AS A CO-SPONSOR SANTIAGO 98-01-27 H ADDED AS A CO-SPONSOR TURNER,ART 98-01-27 H FIRST READING 98-01-27 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-05-11 H PENSION NOTE FILED 98-05-11 H COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary