BURKE-CAPPARELLI-BUGIELSKI-ACEVEDO-LOPEZ, BRADLEY AND MCAULIFFE. 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 805/8.23 new Amends the Chicago Police Article of the Illinois 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, 1999. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Estimated 1st year cost is $9.8 million (1.46% of payroll). PENSION NOTE, REVISED (Pension Laws Commission) Estimated 1st year cost is $10.5 million (1.46% of payroll). 99-01-14 H FIRST READING 99-01-14 H ADDED AS A JOINT SPONSOR CAPPARELLI 99-01-14 H ADDED AS A CO-SPONSOR BUGIELSKI 99-01-14 H ADDED AS A CO-SPONSOR ACEVEDO 99-01-14 H ADDED AS A CO-SPONSOR LOPEZ 99-01-14 H ADDED AS A CO-SPONSOR LYONS,JOSEPH 99-01-14 H ADDED AS A CO-SPONSOR BRADLEY 99-01-14 H ADDED AS A CO-SPONSOR MCAULIFFE 99-01-14 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-01-27 H ASSIGNED TO COMMITTEE PERS PENSION 99-02-08 H PENSION NOTE FILED 99-02-08 H COMMITTEE PERS PENSION 99-03-05 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-09-08 H PENSION NOTE FILED REVISED 99-09-08 H COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary