CAPPARELLI-SAVIANO-BUGIELSKI-BURKE- SANTIAGO AND MCAULIFFE. 40 ILCS 5/5-132 from Ch. 108 1/2, par. 5-132 30 ILCS 805/8.22 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, 1998. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Estimated increase in accrued liability is $146.0 M; in normal cost is $4.8 M, with an annual payment over 40 years of $6.9 M. Estimated first year cost is $11.7 M, 1.79% of payroll. 98-01-27 H FILED WITH CLERK 98-01-27 H ADDED AS A JOINT SPONSOR SAVIANO 98-01-27 H ADDED AS A CO-SPONSOR BUGIELSKI 98-01-27 H ADDED AS A CO-SPONSOR BURKE 98-01-27 H ADDED AS A CO-SPONSOR LYONS,JOSEPH 98-01-27 H ADDED AS A CO-SPONSOR SANTIAGO 98-01-27 H ADDED AS A CO-SPONSOR MCAULIFFE 98-01-27 H FIRST READING 98-01-27 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-03-03 H PENSION NOTE FILED 98-03-03 H COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary