40 ILCS 5/17-116.3
30 ILCS 805/8.25 new
Amends the Chicago Teacher Article of the Illinois Pension Code
to grant additional benefits to persons who began receiving early
retirement benefits in 1993. Requires no additional contribution.
Provides for recalculation of current annuities. Amends the State
Mandates Act to require implementation without reimbursement.
PENSION NOTE (Pension Laws Commission)
Based on the 1999 actuarial valuation, SB612 would increase the
accrued liability of the Fund by $63.7 million, the correspond-
ing increase in total annual cost would be $3.1 million, or
0.21% of payroll.
FEB-21-2001 S FIRST READING
FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES
FEB-28-2001 S ASSIGNED TO COMMITTEE INS & PENS.
MAR-02-2001 S PENSION NOTE FILED AS INTRODUCED
MAR-06-2001 S POSTPONED
MAR-20-2001 S POSTPONED
MAR-27-2001 S POSTPONED
MAR-27-2001 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