90th General Assembly
Summary of HB0376
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House Sponsors:
FRITCHEY-LYONS,JOSEPH-CAPPARELLI-SANTIAGO AND SAVIANO.

Short description: 
PENCD-CHGO TCHR-AVERAGE SALARY                                             

Synopsis of Bill as introduced:
        Amends the Chicago Teacher Article of the Pension Code to  change      
   the  period used to determine average salary from 4 years to 3 years.       
   Amends the  State  Mandates  Act  to  require  implementation  without      
   reimbursement.  Effective immediately.                                      
          PENSION IMPACT NOTE                                                  
          HB 355 is based on the August 1995 actuarial valuation:              
           Increase in accrued liability                           $71.1M      
           Increase in total annual cost                           $ 7.8M      
           Increase in total annual cost as a % of payroll            67%      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

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


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