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) 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-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