House Sponsors: CAPPARELLI-BUGIELSKI-SAVIANO-SANTIAGO-LYONS,JOSEPH, MCAULIFFE, BURKE AND FRITCHEY. Short description: PEN CD-CHGO MUNI-BENEFIT INCR Synopsis of Bill as introduced: Amends the Chicago Municipal Article of the Pension Code. Increases the minimum retirement annuity. Provides for retirement at age 50 with 30 years of service. Eliminates the age discount for employees who retire at age 55 with 25 years of service. Increases the minimum widow's annuity and allows certain widows to elect to receive 50% of the deceased employee's retirement annuity instead of a widow's annuity. Increases the child's annuity and removes the combined family maximum for certain persons currently eligible for child's annuities. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Increase in unfunded accrued liability $293.4 M Increase in employer's normal cost $ 30.9 M Increase in employer's tax levy multiple .40 Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status