CULLERTON. 40 ILCS 5/17-116.7 new 30 ILCS 805/8.21 new Amends the Chicago Teacher Article of the Pension Code to extend the early retirement program for persons who retire at the end of the 1996-1997 school year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION IMPACT NOTE The cost of the SB 635 is uncertain, as it depends on the num- ber of employees who participate. Utilization rate: --25%-- --50%-- --75%-- Increase in accrued liability $21.8 M $43.6 M $65.4 M Increase in total annual cost $ 1.1 M $ 2.1 M $ 3.2 M Increase in total annual cost as a % of payroll .10% .20% .29% 97-02-06 S FIRST READING 97-02-06 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE INS & PENS. 97-02-26 S TO SUBCOMMITTEE 97-03-05 S PENSION NOTE FILED 97-03-05 S COMMITTEE INS & PENS. 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary