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
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