40 ILCS 5/17-125 from Ch. 108 1/2, par. 17-125
30 ILCS 805/8.25 new
Amends the Chicago Teachers Article of the Illinois Pension Code.
Provides that, upon the retirement of a married teacher, if all of the
teacher's eligible survivors predeceased him or her, the total amount
contributed by the teacher or otherwise paid by deductions from salary
for survivor's pension shall be refunded to the teacher together with
interest thereon at the rate of 5% per year, compounded annually from
the date of retirement to the date of repayment by the Fund. Amends
the State Mandates Act to require implementation without
reimbursement. Effective immediately.
PENSION NOTE (Pension Laws Commission)
According to the Fund's actuary, the fiscal impact of SB 670
is expected to be small.
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-06-2001 S TO SUBCOMMITTEE
MAR-12-2001 S PENSION NOTE FILED AS INTRODUCED
MAR-12-2001 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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