PEN CD-CHGO POL-INCR RETMT-80% Senate SponsorsSen. James A. DeLeo 1/13/2009SenateSession Sine Die 40 ILCS 5/5-132from Ch. 108 1/2, par. 5-13240 ILCS 5/5-148from Ch. 108 1/2, par. 5-14830 ILCS 805/8.31 new Amends the Chicago Police Article of the Illinois 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 the effective date. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 2/8/2007SenateFiled with Secretary by Sen. James A. DeLeo 2/8/2007SenateFirst Reading 2/8/2007SenateReferred to Rules 2/21/2007SenateAssigned to Pensions and Investments 3/16/2007SenateRule 3-9(a) / Re-referred to Rules 1/13/2009SenateSession Sine Die