House Sponsors: WOOLARD. Short description: PEN CD-TRS-30 YRS-RET ANY AGE Synopsis of Bill as introduced: Amends the Teachers' Article of the Illinois Pension Code. Provides that a person who has not begun receiving a retirement annuity before the effective date of this amendatory Act of the 91st General Assembly and who has at least 30 years of service is entitled to a retirement annuity at any age. Effective immediately. PENSION NOTE (Pension Laws Commission) The fiscal impact has not been calculated, but it is estimated that allowing an unreduced retirement annuity at age 55 with 30 years of service would increase accrued liability by $613 million at current retirement rates and that retirement at any age with 30 years of service would result in a larger increase. PENSION NOTE, REVISED (Pension Laws Commission) HB2916 would increase the accrued liability by an estimated $1.15 billion. The required annual contributions have not been calculated, but would be significant. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status