SAVIANO, LYONS,JOSEPH AND BRADLEY. 40 ILCS 5/17-119 from Ch. 108 1/2, par. 17-119 40 ILCS 5/17-156.1 from Ch. 108 1/2, par. 17-156.1 30 ILCS 805/8.22 new Amends the Chicago Teachers Article of the Pension Code to increase the rate of automatic annual increase in pensions from 3% to 4%. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) The increase in accrued liability is estimated to be $607.5 million. The increase in total annual cost is estimated to be $46.8 million, or 3.43% of payroll. The total annual cost would increase commensurate with payroll. 98-02-17 H FILED WITH CLERK 98-02-17 H FIRST READING 98-02-17 H REFERRED TO HOUSE RULES COMMITTEE RULES 98-03-23 H ADDED AS A CO-SPONSOR LYONS,JOSEPH 98-03-23 H ADDED AS A CO-SPONSOR BRADLEY 98-03-24 H PENSION NOTE FILED 98-03-24 H COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary