O'MALLEY. 40 ILCS 5/17-116.3 30 ILCS 805/8.24 new 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. Provides for recalculation of current annuities. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) SB 1423 increases: Accrued liability $67.2 million Total annual cost (0.23% of payroll) $ 3.3 million 00-01-20 S FIRST READING 00-01-20 S REFERRED TO SENATE RULES COMMITTEE RULES 00-01-31 S PENSION NOTE FILED 00-01-31 S COMMITTEE RULES 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary