92nd General Assembly
Summary of SB0739
   [ Home ]   [ Back ]   [ Legislation ]
Please enter a bill number.

 Full Text  Bill Status
Senate Sponsors:

Short description: 
PEN CD-DNST TCH-ADMINISTRATIVE                                             

Synopsis of Bill as introduced:
        Amends the Downstate Teacher  Article  of  the  Illinois  Pension      
   Code. Eliminates the 100-day TRS membership waiting period for persons      
   receiving  a  retirement  annuity  under  the Chicago Teacher Article.      
   Permits certain teachers who interrupted  service  under  the  Chicago      
   Teacher  Article  because  of pregnancy to purchase TRS credit for the      
   period of leave.  Incorporates the 2.2% retirement  formula  into  the      
   calculation  of  the single-sum retirement benefit.  Provides that the      
   System may require benefit recipients to  receive  recurring  payments      
   electronically.   Combines  the  Members' Contribution Reserve and the      
   Employer's Contribution  Reserve  into  a  single  new  Benefit  Trust      
   Reserve.  Effective immediately.                                            
          PENSION NOTE (Pension Laws Commission)                               
          The fiscal impact of SB 739 cannot be determined, but is es-         
          timated to be minor.                                                 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


 Full Text  Bill Status