CAPPARELLI-SAVIANO-MCAULIFFE-BUGIELSKI-MOORE,EUGENE AND LYONS,JOSEPH. (MAITLAND-MOLARO) 40 ILCS 5/12-133.5 new 40 ILCS 5/12-166 from Ch. 108 1/2, par. 12-166 30 ILCS 805/8.22 new Amends the Chicago Park District Article of the Pension Code. Provides an early retirement program for certain employees who withdraw from service on or after August 31, 1998 and no later than December 31, 1998. Allows the retiree to establish up to 5 years of additional service credit; requires an additional employee contribution. Also expands the investment authority of the Board. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Participation rate is estimated at 30%, for an increase in accrued liability of $4.6 M; to amortize over 10 years, an annual contribution is $508,000. Annual investment return may be increased. HOUSE AMENDMENT NO. 1. Deletes reference to: 40 ILCS 5/12-133.5 new 40 ILCS 5/12-166 from Ch. 108 1/2, par. 12-166 30 ILCS 805/8.22 new Adds reference to: 40 ILCS 5/15-102 from Ch. 108 1/2, par. 15-102 Deletes everything. Amends the State Universities Article of the Pension Code to make a technical correction in a cross reference relating to definitions. Effective immediately. PENSION NOTE, AMENDED No change from previous pension note. HOUSE AMENDMENT NO. 2. Deletes reference to: 40 ILCS 5/15-102 from Ch. 108 1/2, par. 15-102 Adds reference to: 40 ILCS 5/12-133.5 new 40 ILCS 5/12-166 from Ch. 108 1/2, par. 12-166 30 ILCS 805/8.22 new Deletes everything. Amends the Chicago Park District Article of the Pension Code. Provides an early retirement program for certain employees who withdraw from service on or after August 31, 1998 and no later than December 31, 1998. Allows the retiree to establish up to 5 years of additional service credit; requires an additional employee contribution. Also expands the investment authority of the Board. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 98-01-14 H FILED WITH CLERK 98-01-14 H ADDED AS A JOINT SPONSOR SAVIANO 98-01-14 H ADDED AS A CO-SPONSOR MCAULIFFE 98-01-14 H ADDED AS A CO-SPONSOR BUGIELSKI 98-01-20 H FIRST READING 98-01-20 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-02-25 H ASSIGNED TO COMMITTEE PERS PENSION 98-03-03 H PENSION NOTE FILED 98-03-03 H COMMITTEE PERS PENSION 98-03-20 H AMENDMENT NO. 01-PERS PENSION H 98-03-20 H ADOPTED 98-03-20 H DO PASS AMENDED/SHORT DEBATE 008-005-000 HPPN 98-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 98-03-23 H ADDED AS A CO-SPONSOR LYONS,JOSEPH 98-03-25 H SECOND READING-SHORT DEBATE 98-03-25 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 98-03-26 H AMENDMENT NO. 02-CAPPARELLI 98-03-26 H AMENDMENT REFERRED TO HRUL 98-03-26 H RULES REFERS TO HPPN 98-03-26 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 98-03-31 H ADDED AS A CO-SPONSOR MOORE,EUGENE 98-03-31 H PENSION NOTE FILED AS AMENDED 98-03-31 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 98-04-01 H AMENDMENT NO. 02-CAPPARELLI 98-04-01 H BE APPROVED FOR CONSIDERATION 013-000-000/HPPN 98-04-01 H AMENDMENT NO. 02-CAPPARELLI 98-04-01 H ADOPTED 98-04-01 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 98-04-02 H THIRD READING/SHORT DEBATE/PASSED 088-027-000 98-04-02 S ARRIVE IN SENATE 98-04-02 S PLACED CALENDAR ORDER OF FIRST READING 98-04-21 98-04-23 S CHIEF SPONSOR MAITLAND 98-04-23 S FIRST READING 98-04-23 S REFERRED TO SENATE RULES COMMITTEE RULES 98-04-23 S ADDED AS A CHIEF CO-SPONSOR MOLARO 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary