Senate Sponsors: CULLERTON. Short description: PEN CD-CHGO TCHR-EARLY RETMT Synopsis of Bill as introduced: 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% 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