CULLERTON. 40 ILCS 5/17-116 from Ch. 108 1/2, par. 17-116 30 ILCS 805/8.26 new Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that a teacher may receive a retirement pension at age 60 with 10 years of service. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on the 1999 actuarial valuation, SB 1632 would increase the accrued liability of the Fund by $26.3 million. The corres- ponding increase in total annual cost would be $4.1 million, or 0.27% of payroll. JAN-29-2002 S FIRST READING JAN-29-2002 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-15-2002 S PENSION NOTE FILED AS INTRODUCED FEB-15-2002 S COMMITTEE RULES JAN-07-2003 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary