92nd General Assembly
Status of HB3701
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 Full Text  Bill Summary

   40 ILCS 5/17-122          from Ch. 108 1/2, par. 17-122                     
   30 ILCS 805/8.26 new                                                        

        Amends the Chicago Teachers Article of the Illinois Pension Code.      
   Provides that, beginning January 1, 2003, the  minimum  survivor's  or      
   child's  pension  shall  be  at  least $400 per month.  Provides that,      
   beginning January 1, 2003, the minimum total survivor's and children's      
   pension payable upon the death of  a  contributor  or  annuitant  that      
   occurred  before January 1, 1987 shall be 50% of the earned retirement      
   pension of that contributor or annuitant.  Amends the  State  Mandates      
   Act   to  require  implementation  without  reimbursement.   Effective      
          PENSION NOTE (Pension Laws Commission)                               
          According to an analysis prepared by the Fund's actuary, HB3701      
          would increase the accrued liability of the Fund by an esti-         
          mated $5.6 million. The increase in total annual cost is esti-       
          mated to be $276,000, or 0.02% of payroll.                           
   NOV-28-2001  H  FILED WITH CLERK                                               
   NOV-29-2001  H  FIRST READING                                                  
   NOV-29-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   JAN-22-2002  H                        PENSION NOTE FILED                       
   JAN-22-2002  H                   COMMITTEE               RULES                 
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary