CULLERTON. 40 ILCS 5/17-119.1 30 ILCS 805/8.25 new Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that a person with at least 30 years of service at retirement may have that service converted to the augmented rate without paying any additional contribution. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on the 2000 actuarial valuation, the increase in the present value of future employer contributions is estimated to be $26.5 million. The increase in total annual cost is estimated to be $1.3 milion, or 0.09% of payroll. FEB-01-2001 S FIRST READING FEB-01-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-21-2001 S ASSIGNED TO COMMITTEE INS & PENS. FEB-22-2001 S PENSION NOTE FILED AS INTRODUCED MAR-06-2001 S TO SUBCOMMITTEE MAR-06-2001 S COMMITTEE INS & PENS. MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary