SAVIANO-CAPPARELLI-BURKE-MCAULIFFE-BUGIELSKI. 40 ILCS 5/5-132.3 new 30 ILCS 805/8.22 new Amends the Chicago Police Article of the Pension Code to provide early retirement incentives. Grants up to 5 years of creditable service and up to 5 years of age enhancement. Requires employee contributions at half the regular rate. Requires the City to pay the resulting unfunded accrued liability to the Fund over 7 years, with interest. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Estimated increase in accrued liabilities at 50% utilization is $202.2 M, and at 100% utilization is $454.1 M. 98-01-27 H FILED WITH CLERK 98-01-27 H ADDED AS A JOINT SPONSOR CAPPARELLI 98-01-27 H ADDED AS A CO-SPONSOR BURKE 98-01-27 H ADDED AS A CO-SPONSOR MCAULIFFE 98-01-27 H ADDED AS A CO-SPONSOR BUGIELSKI 98-01-27 H FIRST READING 98-01-27 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-03-03 H PENSION NOTE FILED 98-03-03 H COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary