House Sponsors: MURPHY. Short description: PEN CD-ONE-TIME INCREASES Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Illinois Pension Code to provide for a one-time increase in certain retirement and survivor's annuities. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) The fiscal impact of HB 3702 has not been determined, but would be significant. According to an analysis prepared in 1999 by the Fund's actuary, an essentially identical bill would have increased the accrued liabilities of the Fund by $121.5 million. The increase in total annual cost was estimated to be $6.1 million, or 0.42% of payroll. It is estimated that HB 3702 would have a larger impact, by an amount that has not been determined. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status