Senate Sponsors: CULLERTON. Short description: PEN CD-CHGO ALDERMAN FORMULA Synopsis of Bill as introduced: Amends the Chicago Municipal Article of the Pension Code. Allows elected city officials to retire under the special formula at age 55 rather than age 60. Allows participation in the special formula by the city clerk and city treasurer, and by persons holding elected city office on June 1, 1995 who so elect within 30 days. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) There would be a fiscal impact associated with SB 1517, but it has not been calculated. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status