House Sponsors: SAVIANO. Short description: PEN CD-TEACHERS-EARLY RETMT Synopsis of Bill as introduced: Amends the Downstate and Chicago Teacher Articles of the Pension Code. Extends the early retirement without discount option to 2005 and makes changes relating to the employer contribution under that option. Reduces the contribution required for certain persons to receive the augmented 2.2% retirement annuity rate. In the Downstate Teacher Article, changes the provision establishing the 2.3% unaugmented rate for certain persons having at least 30 years of service, to bring the provision into conformance with constitutional nonimpairment requirements. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) TRS: Increase in accrued liability $8 to $12 million Increase in total annual cost FY2000 Statutory Phase-In, $ 0.9 million FY2000 Unramped Phase-In $ 7.6 million FY2010 Statutory Phase-In $14.2 million FY2010 Unramped Phase-In $11.3 million CTRS: Increase in accrued liability (80% utilization) $11.8 million Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status