91st General Assembly Summary of SB0134    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
MOLARO.

Short description: 
PEN CD-CHGO TCHR-STATE FUNDING                                             

Synopsis of Bill as introduced:
        Amends the Chicago Teacher Article of the Pension Code.  Provides      
   that the annual State contribution to the Fund shall be no  less  than      
   20%  of  the  annual  State  contribution  to  the downstate Teachers'      
   Retirement System, beginning in State  fiscal  year  2000.   Effective      
   immediately.                                                                
          PENSION NOTE (Pension Laws Commission)                               
          Estimated required contributions to TRS and increase to CTRS:        
          FY1999                                                               
           TRS                                            $ 634.0 million      
           CTRS                                             126.8 million      
          FY2005                                                               
           TRS                                             1045.0 million      
           CTRS                                             209.0 million      
          FY2010                                                               
           TRS                                             1556.3 million      
           CTRS                                             311.3 million      
          FY2020                                                               
           TRS                                             2222.7 million      
           CTRS                                             444.5 million      
          FY2030                                                               
           TRS                                             3623.3 million      
           CTRS                                             726.5 million      
          FY2040                                                               
           TRS                                             5960.7 million      
           CTRS                                            1192.1 million      
          FY2045                                                               
           TRS                                             7602.1 million      
           CTRS                                            1520.4 million      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: Senate

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


   END OF INQUIRY 


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