Senate Sponsors: CULLERTON. Short description: PEN CD-CHGO TCHR-AUGMENT RATE Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that a person with at least 30 years of service at retirement may have that service converted to the augmented rate without paying any additional contribution. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on the 2000 actuarial valuation, the increase in the present value of future employer contributions is estimated to be $26.5 million. The increase in total annual cost is estimated to be $1.3 milion, or 0.09% of payroll. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status