PEN CD-PURCHASING POWER INCRS House SponsorsRep. Robert S. Molaro 1/11/2005HouseSession Sine Die 40 ILCS 5/17-119from Ch. 108 1/2, par. 17-11940 ILCS 5/17-119.2 new40 ILCS 5/17-122from Ch. 108 1/2, par. 17-12230 ILCS 805/8.27 new Amends the Chicago Teacher Article of the Illinois Pension Code. Provides for a one-time increase in certain retirement and survivor's annuities. Declares it to be the public policy of this State and the intention of the General Assembly to protect annuitants against significant decreases in the purchasing power of retirement and survivor's annuities. Directs the retirement system to review and report on significant changes in purchasing power. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.Pension Note (Pension Laws Commission) HB 1172 would increase the accrued liability of the Fund by $31.6 million. The annual payment required to amortize the increase in liability is estimated to be $1.6 million, or 0.09% of payroll. As HB 1172 only affects current retirees, it would not increase the annual normal cost of the fund. 2/4/2003HouseFiled with the Clerk by Rep. Robert S. Molaro 2/4/2003HouseFirst Reading 2/4/2003HouseReferred to Rules Committee 2/5/2003HouseAssigned to Executive Committee 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 3/17/2003HousePension Note Filed 1/11/2005HouseSession Sine Die