PEN CD-CHGO POL-3% COMPOUNDED Senate SponsorsSen. James A. DeLeo 1/9/2007SenateSession Sine Die 40 ILCS 5/5-167.1from Ch. 108 1/2, par. 5-167.140 ILCS 5/5-167.2from Ch. 108 1/2, par. 5-167.230 ILCS 805/8.30 newAmends the Chicago Police Article of the Illinois Pension Code. Compounds the automatic annual increase in retirement annuity. Also increases it to 3%, reduces the minimum age to 55, and removes the 30% maximum increase limitation for all annuitants. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 1/20/2006SenateFiled with Secretary by Sen. James A. DeLeo 1/20/2006SenateFirst Reading 1/20/2006SenateReferred to Rules 2/1/2006SenateAssigned to Pensions & Investments 2/17/2006SenateRule 3-9(a) / Re-referred to Rules 1/9/2007SenateSession Sine Die