Date	Chamber	Action
1/11/2005	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/17-119

from Ch. 108 1/2, par. 17-119

30 ILCS 805/8.27 new

Synopsis As Introduced
Amends the Chicago Teacher Article of the Pension Code. Accelerates the initial annual increase in retirement pension to the January following the first anniversary of retirement. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

	Pension Note (Pension Laws Commission)
	The System's actuary estimates that HB 1388 will increase the accrued liability of the fund by $287.7 million. The corresponding increase in total annual cost is estimated to be $28.1 million, or 1.60% of payroll. As payroll grows, the annual cost will increase commensurate with payroll.

Actions 

Date	Chamber	Action
2/6/2003	House	Filed with the Clerk by Rep. Kevin A. McCarthy
2/6/2003	House	First Reading
2/6/2003	House	Referred to Rules Committee
2/11/2003	House	Assigned to Executive Committee
2/28/2003	House	Pension Note Filed
3/13/2003	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2005	House	Session Sine Die

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