Illinois General Assembly - Bill Status for HB0604

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Bill Status of HB0604 95th General Assembly

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Short Description: PEN CD-CHGO TCHR-RETMT INCR

House Sponsors
Rep. Angelo Saviano

Last Action

Date	Chamber	Action
1/13/2009	House	Session Sine Die

Statutes Amended In Order of Appearance

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 805/8.31 new

Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Establishes a minimum retirement pension of $1,500 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 (Government Forecasting & Accountability)
	According to the Fund’s actuary, HB 604 would increase the accrued liabilities of the fund by an estimated $149.9 million. The resulting increase in total annual costs is estimated to be $9.4 million, or 0.53% of payroll.

Actions

Date	Chamber	Action
2/2/2007	House	Filed with the Clerk by Rep. Angelo Saviano
2/5/2007	House	First Reading
2/5/2007	House	Referred to Rules Committee
2/7/2007	House	Assigned to Personnel and Pensions Committee
2/15/2007	House	Pension Note Filed
2/27/2007	House	Re-assigned to Executive Committee
3/23/2007	House	Rule 19(a) / Re-referred to Rules Committee
1/13/2009	House	Session Sine Die

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