RADOGNO. 40 ILCS 5/5-132 from Ch. 108 1/2, par. 5-132 40 ILCS 5/5-148 from Ch. 108 1/2, par. 5-148 30 ILCS 805/8.23 new Amends the Chicago Police Article of the Pension Code to provide an increase in the retirement benefit formula. Changes the maximum annuity from 75% to 80% of average salary. Provides for 2.5% (rather than 2%) of average salary for each year of service beyond 20. Applies to persons withdrawing from service after December 31, 1999. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Estimated first year cost is $9.8 million (1.46% of payroll). PENSION NOTE, REVISED (Pension Laws Commission) Estimated first year cost is $10.5 million (1.46% of payroll). 99-01-27 S FIRST READING 99-01-27 S REFERRED TO SENATE RULES COMMITTEE RULES 99-01-27 S ASSIGNED TO COMMITTEE INS & PENS. 99-02-09 S PENSION NOTE FILED 99-02-24 S TO SUBCOMMITTEE 99-02-24 S COMMITTEE INS & PENS. 99-03-20 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 99-09-08 S PENSION NOTE FILED REVISED 99-09-08 S COMMITTEE RULES 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary