Illinois General Assembly - Bill Status for HB2230
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 Bill Status of HB2230  93rd General Assembly

Short Description:  PEN CD-CHGO TCHR-RETMT-10 YRS

House Sponsors
Rep. Angelo Saviano

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/17-116from Ch. 108 1/2, par. 17-116
30 ILCS 805/8.27 new


Synopsis As Introduced
Amends the Chicago Teacher Article of the 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)
 According to an estimate prepared by the Fund's actuary (based on the 2002 actuarial valuation), HB 2230 would increase the accrued liability of the Fund by $35.8 million. The corresponding increase in total annual cost would be $5.2 million, or 0.29% of payroll.

Actions 
DateChamber Action
  2/19/2003HouseFiled with the Clerk by Rep. Angelo Saviano
  2/19/2003HouseFirst Reading
  2/19/2003HouseReferred to Rules Committee
  2/21/2003HouseAssigned to Executive Committee
  2/28/2003HousePension Note Filed
  3/13/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005HouseSession Sine Die

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