92nd General Assembly
Status of HB1996
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 Full Text  Bill Summary

   40 ILCS 5/17-116.1        from Ch. 108 1/2, par. 17-116.1                   
   30 ILCS 805/8.25 new                                                        

        Amends the Chicago Teachers Article of the Illinois Pension Code.      
   Provides that a member who retires after June 1, 2002 and before  June      
   30,  2007  and  within  6 months of the last day of teaching for which      
   contributions were required may make a one-time  contribution  to  the      
   system  and  thereby  avoid  early  retirement reduction in allowance.      
   Provides that an election by a member  to  make  such  a  contribution      
   obligates  the  last  employer  to make a one-time contribution to the      
   Fund.  Amends the State Mandates Act to require implementation without      
   reimbursement.  Effective immediately.                                      
          PENSION NOTE (Pension Laws Commission)                               
          According to the Fund's actuary, HB 1996 would increase the          
          accrued liability and annual costs of the Fund by a minor            
   FEB-21-2001  H  FILED WITH CLERK                                               
   FEB-21-2001  H  FIRST READING                                                  
   FEB-21-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-22-2001  H       ASSIGNED TO COMMITTEE               PERS PENSION          
   MAR-12-2001  H                        PENSION NOTE FILED                       
   MAR-12-2001  H                   COMMITTEE               PERS PENSION          
   MAR-16-2001  H  RE-REFERRED TO RULES COMM/RULE 19(A)     RULES         HRUL    
   JAN-07-2003  H  SESSION SINE DIE                                               


 Full Text  Bill Summary