CULLERTON. 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 805/8.25 new Amends the Chicago Teachers Article of the Illinois 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 NOTE (Pension Laws Commission) Based on the 2000 actuarial valuation, the increase in accrued liability is estimated to be $724.4 million. The increase in total annual cost is estimated to be $57.3 million, or 3.77% of payroll. The total annual cost would increase commensurate with 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