91st General Assembly
Status of HB3448
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 Full Text  Bill Summary

   40 ILCS 5/17-119          from Ch. 108 1/2, par. 17-119                     
   30 ILCS 805/8.24 new                                                        

        Amends  the  Chicago  Teacher  Article  of  the   Pension   Code.      
   Calculates  the  pro  rata  portion  of the initial annual increase in      
   retirement  pension  from  attainment  of  age  55  (or  the  date  of      
   retirement) rather than from attainment of age 61.  Amends  the  State      
   Mandates   Act   to   require  implementation  without  reimbursement.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
           Increase in accrued liabilities                 $126.3 million      
           Increase in total annual cost (0.67% of payroll)$  9.7 million      
   00-01-20  H  FIRST READING                                                  
   00-01-20  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   00-01-31  H                        PENSION NOTE FILED                       
   00-01-31  H                   COMMITTEE               RULES                 
   01-01-09  H  SESSION SINE DIE                                               


 Full Text  Bill Summary