Senate Sponsors: O'MALLEY. Short description: PEN CD-CHGO TEACHR-EARLY RETMT Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Pension Code to grant additional benefits to persons who began receiving early retirement benefits in 1993. Requires no additional contribution. Provides for recalculation of current annuities. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on the 1999 actuarial valuation, SB 1105 would increase liability of the Fund by $63.7 million. The corresponding in- crease in total annual cost would be $3.1 million, or 0.21% of payroll. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status