O'MALLEY. 40 ILCS 5/17-116.3 30 ILCS 805/8.25 new Amends the Chicago Teacher Article of the Illinois 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) Based on the 1999 actuarial valuation, SB612 would increase the accrued liability of the Fund by $63.7 million, the correspond- ing increase in total annual cost would be $3.1 million, or 0.21% of payroll. FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-02-2001 S PENSION NOTE FILED AS INTRODUCED MAR-06-2001 S POSTPONED MAR-20-2001 S POSTPONED MAR-27-2001 S POSTPONED MAR-27-2001 S COMMITTEE INS & PENS. MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary