40 ILCS 5/17-116 from Ch. 108 1/2, par. 17-116
40 ILCS 5/17-122 from Ch. 108 1/2, par. 17-122
30 ILCS 805/8.25 new
Amends the Chicago Teacher Article of the Illinois Pension Code
to change the period used to determine average salary, from 4 years to
3 years. 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 accrued
liability is estimated to be $97.6 million. The increase in
total annual cost is estimated to be $10.1 million, or 0.66%
of payroll. The total annual cost would increase commensurate
FEB-01-2001 S FIRST READING
FEB-01-2001 S REFERRED TO SENATE RULES COMMITTEE RULES
FEB-21-2001 S ASSIGNED TO COMMITTEE INS & PENS.
FEB-22-2001 S PENSION NOTE FILED AS INTRODUCED
MAR-06-2001 S TO SUBCOMMITTEE
MAR-06-2001 S COMMITTEE INS & PENS.
MAR-31-2001 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES
JAN-07-2003 S SESSION SINE DIE
END OF INQUIRY
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