92nd General Assembly
Status of SB1105
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O'MALLEY.

   40 ILCS 5/17-116.3                                                          
   30 ILCS 805/8.25 new                                                        

        Amends the Chicago Teacher Article of the Pension Code  to  grant      
   additional  benefits  to  persons who began receiving early retirement      
   benefits in 1993.  Requires no additional contribution.  Provides  for      
   recalculation  of current annuities.  Amends the State Mandates Act to      
   require implementation without reimbursement.  Effective immediately.       
          PENSION NOTE (Pension Laws Commission)                               
          Based on the 1999 actuarial valuation, SB 1105 would increase        
          liability of the Fund by $63.7 million. The corresponding in-        
          crease in total annual cost would be $3.1 million, or 0.21% of       
          payroll.                                                             
   FEB-22-2001  S  FIRST READING                                                  
   FEB-22-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   FEB-28-2001  S       ASSIGNED TO COMMITTEE               INS & PENS.           
   MAR-02-2001  S                        PENSION NOTE FILED AS INTRODUCED         
   MAR-06-2001  S       TO SUBCOMMITTEE                                           
   MAR-06-2001  S                   COMMITTEE               INS & PENS.           
   MAR-31-2001  S  RE-REFERRED TO RULES COMM/RULE 3-9(A)    RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary