House Sponsors: CAPPARELLI-LYONS,JOSEPH-BUGIELSKI-BURKE-MCAULIFFE, LOPEZ, LANG AND SAVIANO. Short description: PEN CD-CHGO TCHR-EARLY RETMT Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Pension Code to extend the early retirement program for persons who retire at the end of the 1996-1997 school year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE Increase in accrued liability at 25% utilization $21.8 M at 50% utilization $43.6 M at 75% utilization $65.4 M Increase in total annual cost at 25% utilization $ 1.1 M at 50% utilization $ 2.1 M at 75% utilization $ 3.2 M Increase in total annual cost as a percent of payroll at 25% .10% at 50% .20% at 75% .29% Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status