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
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status