Senate Sponsors: DELEO. Short description: PEN CD-CHGO TCHR-RETMT INCR Synopsis of Bill as introduced: 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. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status