91st General Assembly Summary of SB0137    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
MOLARO.

Short description: 
PEN CD-CHGO TCHR-ST CONTRIB                                                

Synopsis of Bill as introduced:
        Amends the Chicago Teacher Article of the Pension Code.  Provides      
   for mandatory State contributions to the Chicago Teacher Pension Fund.      
   Effective immediately.                                                      
          PENSION NOTE (Ill. Pension Laws Commission)                          
          SB 137 would provide additional State funding to CTRS, equal to      
          20% of the increase in TRS appropriations over 1999 levels as        
          follows:                                                             
          FY2020                                            331.1 million      
          FY2030                                            613.0 million      
          FY2040                                           1078.7 million      
          FY2045                                           1407.0 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


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