PEN CD-CHGO TCHR-ANNUAL INCR House SponsorsRep. Kevin A. McCarthy 1/11/2005HouseSession Sine Die 40 ILCS 5/17-119from Ch. 108 1/2, par. 17-11930 ILCS 805/8.27 new 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. 2/6/2003HouseFiled with the Clerk by Rep. Kevin A. McCarthy 2/6/2003HouseFirst Reading 2/6/2003HouseReferred to Rules Committee 2/11/2003HouseAssigned to Executive Committee 2/28/2003HousePension Note Filed 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005HouseSession Sine Die