House Sponsors: CAPPARELLI-BURKE-BUGIELSKI-SANTIAGO-LOPEZ, LYONS,JOSEPH, LANG, SAVIANO AND ERWIN. Senate Sponsors: MADIGAN,R-BERMAN-FARLEY-CARROLL Short description: PEN CD-CHGO TCH-RETMT DISCOUNT Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Pension Code to extend the deadline for early retirement without discount from June 30, 1995 to June 30, 2005; applies retroactively to persons who have retired since June 30, 1995. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Fiscal impact is estimated to be minor, able to be covered by required contributions. FISCAL NOTE (Chicago Teachers' Retirement System) Assuming 80% participation, estimated financial impact would be $11,782,000. PENSION NOTE H-am 1 poses no change from previous pension note. FISCAL NOTE (State Bd. of Ed.) SBE is not able to provide fiscal information. STATE MANDATES FISCAL NOTE (SBE) No change from SBE fiscal note. HOUSE AMENDMENT NO. 1. Changes the new deadline from 2005 to 2002. PENSION NOTE, H-AM 1 No change from previous pension notes. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status