MOLARO. 40 ILCS 5/17-131 from Ch. 108 1/2, par. 17-131 30 ILCS 805/8.25 new Amends the Chicago Teacher Article of the Pension Code. Provides that salary received on or after July 1, 1999 for overtime, summer school, and other optional service shall be included in the calculation of salary for pension purposes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) According to an analysis prepared by the Fund's actuary (based on the 1999 actuarial valuation), SB 675 would increase a member's final average salary for pension purposes by 2.5%. The resulting increase in accrued liability is estimated to be $112.3 million. The increase in total annual cost is estimated to be $11.7 million, or 0.77% of payroll. FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS. MAR-06-2001 S TO SUBCOMMITTEE MAR-12-2001 S PENSION NOTE FILED AS INTRODUCED MAR-12-2001 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