40 ILCS 5/17-116 from Ch. 108 1/2, par. 17-116
40 ILCS 5/17-119 from Ch. 108 1/2, par. 17-119
30 ILCS 805/8.25 new
Amends the Chicago Teacher Article of the Illinois Pension Code.
Establishes a minimum retirement pension of $1,333.34 per month for
teachers with at least 20 years of service credit in the Fund. Amends
the State Mandates Act to require implementation without
reimbursement. Effective immediately.
PENSION NOTE (Pension Laws Commission)
SB 507 would increase the accrued liability of the Fund by
$98.7 million. The resulting increase in total annual cost
is estimated to be $4.9 million, or 0.32% of payroll.
FEB-20-2001 S FIRST READING
FEB-20-2001 S REFERRED TO SENATE RULES COMMITTEE RULES
FEB-27-2001 S PENSION NOTE FILED AS INTRODUCED
FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS.
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
Full Text Bill Summary