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
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