House Sponsors: SMITH,MICHAEL, FOWLER AND BOLAND. Short description: PEN CD-DNST POLICE-EARLY RETMT Synopsis of Bill as introduced: Amends the Downstate Police Article of the Pension Code to provide early retirement incentives. Applies to certain persons applying for retirement in the year 2000. Grants up to 5 years of creditable service and 5 years of age enhancement. Requires an employer contribution and an employee contribution. Accelerates the automatic annual increase. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Fiscal impact is uncertain; based on 30% utilization: Increase in accrued liability $20.7 million Increase in total annual costs (0.20% of payroll) $ 1.0 million Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status