DELEO. 40 ILCS 5/17-116 from Ch. 108 1/2, par. 17-116 40 ILCS 5/17-119 from Ch. 108 1/2, par. 17-119 30 ILCS 805/8.25 new Amends the Chicago Teacher Article of the Illinois Pension Code. Establishes a minimum retirement pension of $1,333.34 per month for teachers with at least 20 years of service credit in the Fund. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) SB 507 would increase the accrued liability of the Fund by $98.7 million. The resulting increase in total annual cost is estimated to be $4.9 million, or 0.32% of payroll. FEB-20-2001 S FIRST READING FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-27-2001 S PENSION NOTE FILED AS INTRODUCED FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. 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