92nd General Assembly
Status of SB0144
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 Full Text  Bill Summary

   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                                               


 Full Text  Bill Summary