CAPPARELLI-LYONS,JOSEPH-BURKE-ACEVEDO, BUGIELSKI, BRADLEY AND MCKEON. 40 ILCS 5/5-132 from Ch. 108 1/2, par. 5-132 30 ILCS 805/8.24 new Amends the Chicago Police Article of the Pension Code to base retirement benefits on the highest 12 months, rather than 4 years, of salary within the last 10 years of service, for persons retiring after December 31, 2000. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) The estimated increase in accrued liability due to HB 3376 is $161.2 million. The increase in normal cost is estimated to be $5.9 million and the annual payment needed to amortize the estimated increase in the accrued liability over 40 years is $8.2 million. The estimated first year cost of HB 3376 is $14.1 million, or 1.92% of payroll. 00-01-20 H FILED WITH CLERK 00-01-20 H ADDED AS A JOINT SPONSOR LYONS,JOSEPH 00-01-20 H ADDED AS A JOINT SPONSOR BURKE 00-01-20 H ADDED AS A JOINT SPONSOR ACEVEDO 00-01-20 H ADDED AS A CO-SPONSOR BUGIELSKI 00-01-20 H ADDED AS A CO-SPONSOR MCAULIFFE 00-01-20 H ADDED AS A CO-SPONSOR BRADLEY 00-01-20 H FIRST READING 00-01-20 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-01-25 H PENSION NOTE FILED 00-01-25 H COMMITTEE RULES 00-01-26 H ADDED AS A CO-SPONSOR MCKEON 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary