Senate Sponsors: MOLARO. Short description: PEN CD-CHGO TCHR-ST CONTRIB Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Illinois Pension Code. Provides for mandatory State contributions to the Chicago Teacher Pension Fund. Effective immediately. PENSION NOTE (Pension Laws Commission) SB 191 would provide additional State funding to the Chicago Teachers' Pension Fund. The increase in the required contri- bution would be equal to 20% of the increase in TRS appropri- ation over FY 2001 levels, or an estimated $18.2 million in FY 2002. The estimated contributions to TRS, and the resulting increase in contributions to the Chicago Teachers' Pension Fund are as follows: FY 2002 Projected TRS contributions $ 810.6 million Additional CTRS contributions $ 18.2 million FY 2005 Projected TRS contributions $1,081.1 million Additional CTRS contributions $ 72.3 million FY 2010 Projected TRS contributions $1,621.0 million Additional CTRS contributions $ 180.3 million FY 2020 Projected TRS contributions $2,173.1 million Additional CTRS contributions $ 290.7 million FY 2030 Projected TRS contributions $3,550.0 million Additional CTRS contributions $ 566.1 million FY 2040 Projected TRS contributions $5,821.1 million Additional CTRS contributions $1,020.3 million FY 2045 Projected TRS contributions $7,433.9 million Additional CTRS contributions $1,342.9 million Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status