91st General Assembly
Summary of HB3452
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House Sponsors:
MURPHY.

Short description: 
PEN CD-CHGO TCHR-RETMT INCR                                                

Synopsis of Bill as introduced:
        Amends  the  Chicago  Teacher  Article  of  the   Pension   Code.      
   Establishes  a  minimum  retirement pension of $1,333.34 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 (Pension Laws Commission)                               
          HB 3452 would increase the accrued liability of the Fund by          
          $45.3 million. The resulting increase in total annual cost is        
          estimated to be $2.2 million, or 0.2% of payroll.                    
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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