90th General Assembly
Summary of HB0385
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House Sponsors:

Short description: 
PEN CD-CHGO TCHR-SURVIVORS MIN                                             

Synopsis of Bill as introduced:
        Amends the  Chicago  Teacher  Article  of  the  Pension  Code  to      
   increase  the  minimum  total  survivor's pension to 50% of the earned      
   retirement pension for survivors of members who died before January 1,      
   1987.  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                            $7.9M      
           Increase in total annual cost                            $ .4M      
           Increase in total annual cost as a % of payroll           .03%      
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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