40 ILCS 5/17-119.1
30 ILCS 805/8.26 new
Amends the Chicago Teachers Article of the Illinois Pension Code.
Provides that a member who elects to receive an optional increase in
retirement annuity may make the required contributions in installments
over a 24-month period regardless of when the member becomes an
annuitant (currently the member must become an annuitant before June
30, 2003). Amends the State Mandates Act to require implementation
without reimbursement. Effective immediately.
PENSION NOTE (Illinois Pension Laws Commission)
According to the Fund's actuary, the fiscal impact of HB 3707
is estimated to be minor.
NOV-29-2001 H FILED WITH CLERK
NOV-29-2001 H FIRST READING
NOV-29-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES
FEB-15-2002 H PENSION NOTE FILED
FEB-15-2002 H COMMITTEE RULES
JAN-07-2003 H SESSION SINE DIE
END OF INQUIRY
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