Senate Sponsors: O'MALLEY. Short description: PEN CD-CHGO TEACHR-EARLY RETMT Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Pension Code to grant additional benefits to persons who began receiving early retirement benefits in 1993. Requires no additional contribution. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Additional year of creditable service: Increase in accrued liability $29.9 M Increase in total annual cost $ 1.5 M Increase in total annual cost as % of payroll .13% Average salary calculation using 3 years: Increase in accrued liability $71.1 M Increase in total annual cost $ 2.9 M Increase in total annual cost as % of payroll .67% PENSION NOTE, REVISED No change from previous pension note. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status