RADOGNO. 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) Increase in accrued liability $161.2 million Increase in normal cost $ 5.9 million Annual amortization payment over 40 yrs. $ 8.2 million Estimated 1st year cost (1.92% of payroll) $ 14.1 million 00-01-26 S FIRST READING 00-01-26 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