LYONS,JOSEPH-CAPPARELLI-BUGIELSKI-FRITCHEY-LOPEZ, LANG AND SAVIANO. 40 ILCS 5/17-119 from Ch. 108 1/2, par. 17-119 40 ILCS 5/17-156.1 from Ch. 108 1/2, par. 17-156.1 30 ILCS 805/8.21 new Amends the Chicago Teachers Article of the Pension Code to increase the rate of automatic annual increase in pensions from 3% to 4%. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION IMPACT NOTE HB 355 is based on the August 1995 actuarial valuation: Increase in accrued liability $544.2M Increase in total annual cost $ 42.1M Increase in total annual cost as a % of payroll 3.60% 97-01-30 H FIRST READING 97-01-30 H ADDED AS A JOINT SPONSOR CAPPARELLI 97-01-30 H ADDED AS A CO-SPONSOR BUGIELSKI 97-01-30 H ADDED AS A CO-SPONSOR FRITCHEY 97-01-30 H ADDED AS A CO-SPONSOR LOPEZ 97-01-30 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-05 H ASSIGNED TO COMMITTEE PERS PENSION 97-02-26 H ADDED AS A CO-SPONSOR LANG 97-03-03 H PENSION NOTE FILED 97-03-03 H COMMITTEE PERS PENSION 97-03-21 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary