40 ILCS 5/17-116 from Ch. 108 1/2, par. 17-116
30 ILCS 805/8.26 new
Amends the Chicago Teacher Article of the Illinois Pension Code.
Provides that a teacher may receive a retirement pension at age 60
with 10 years of service. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
PENSION NOTE (Pension Laws Commission)
Based on the 1999 actuarial valuation, SB 1632 would increase
the accrued liability of the Fund by $26.3 million. The corres-
ponding increase in total annual cost would be $4.1 million,
or 0.27% of payroll.
JAN-29-2002 S FIRST READING
JAN-29-2002 S REFERRED TO SENATE RULES COMMITTEE RULES
FEB-15-2002 S PENSION NOTE FILED AS INTRODUCED
FEB-15-2002 S COMMITTEE RULES
JAN-07-2003 S SESSION SINE DIE
END OF INQUIRY
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