House Sponsors: BRADLEY-BUGIELSKI-CAPPARELLI-BURKE-LYONS,JOSEPH. Short description: PEN CD-CHGO FIRE-DROP PLAN Synopsis of Bill as introduced: Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides for a Deferred Retirement Option Plan, under which a fireman who is at least age 50 with 20 years of service may continue in active service for up to 3 years while having his or her retirement annuity paid into a special account, to be distributed to the fireman upon retirement. Bases the retirement annuity on the fireman's service and salary at the time of joining the DROP plan. Requires termination of service at the end of the DROP plan participation period. Effective immediately. PENSION NOTE (Illinois Pension Laws Commission) There may be a fiscal impact associated with the DROP plan contained in HB 4254, but it has not been determined. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status