Senate Sponsors: CULLERTON. Short description: PEN CD-CHGO TCHR-RETMT-10 YRS Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that a teacher may receive a retirement pension at age 60 with 10 years of service. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) Based on the 1999 actuarial valuation, SB 1632 would increase the accrued liability of the Fund by $26.3 million. The corres- ponding increase in total annual cost would be $4.1 million, or 0.27% 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