CAPPARELLI-LYONS,JOSEPH-BURKE-ACEVEDO, BUGIELSKI, BRADLEY AND MCKEON. 40 ILCS 5/5-132 from Ch. 108 1/2, par. 5-132 30 ILCS 805/8.24 new Amends the Chicago Police Article of the Pension Code. Allows retirement at any age with 25 years of service. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) The estimated increase in accrued liability due to HB 3375 is $19.6 million. The decrease in normal cost is estimated to be $1.8 million and the payment needed to amortize the estimated increase in the accrued liability over 40 years is $0.9 million. The estimated reduction in annual cost in the first year due to HB 3375 is $0.8 million, or 0.12% of payroll. 00-01-20 H FILED WITH CLERK 00-01-20 H ADDED AS A JOINT SPONSOR LYONS,JOSEPH 00-01-20 H ADDED AS A JOINT SPONSOR BURKE 00-01-20 H ADDED AS A JOINT SPONSOR ACEVEDO 00-01-20 H ADDED AS A CO-SPONSOR BUGIELSKI 00-01-20 H ADDED AS A CO-SPONSOR MCAULIFFE 00-01-20 H ADDED AS A CO-SPONSOR BRADLEY 00-01-20 H FIRST READING 00-01-20 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-01-25 H PENSION NOTE FILED 00-01-25 H COMMITTEE RULES 00-01-26 H ADDED AS A CO-SPONSOR MCKEON 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary