MADIGAN,R-NOLAND AND BOWLES.
PEN CD-DNST TCH-34 YRS ANY AGE
Synopsis of Bill as introduced:
Amends the Downstate Teacher Article of the Illinois Pension Code
to allow retirement at any age with 34 years of service. Effective
PENSION NOTE (Pension Laws Commission)
SB 1703 would increase the accrued liability of TRS by an
estimated $250 million. The fiscal impact of SB 1703 includes
two components -- $63 million is the cost of the existing Early
Retirement Option, available through 2005, and $187 million is
the additional cost for a permanent 34-and-out provision.
Last action on Bill: SESSION SINE DIE
Last action date: 01-01-09
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status