CULLERTON. 40 ILCS 5/17-116 from Ch. 108 1/2, par. 17-116 40 ILCS 5/17-122 from Ch. 108 1/2, par. 17-122 30 ILCS 805/8.25 new Amends the Chicago Teacher Article of the Illinois Pension Code to change the period used to determine average salary, from 4 years to 3 years. 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 $97.6 million. The increase in total annual cost is estimated to be $10.1 million, or 0.66% 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 END OF INQUIRY Full Text Bill Summary