MURPHY. 40 ILCS 5/17-119 from Ch. 108 1/2, par. 17-119 30 ILCS 805/8.24 new Amends the Chicago Teacher Article of the Pension Code. Calculates the pro rata portion of the initial annual increase in retirement pension from attainment of age 55 (or the date of retirement) rather than from attainment of age 61. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Increase in accrued liabilities $126.3 million Increase in total annual cost (0.67% of payroll)$ 9.7 million 00-01-20 H FIRST READING 00-01-20 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-01-31 H PENSION NOTE FILED 00-01-31 H COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary