Bill Status of HB 2371   94th General Assembly

Short Description:  CHICAGO TCHR-APPROP ACT

House Sponsors
Rep. Robert S. Molaro

Last Action  View All Actions

DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act

Synopsis As Introduced
Creates the Public School Teachers' Pension and Retirement Fund of Chicago Continuing Appropriation Act. Provides for appropriations from the Common School Fund to the Public School Teachers' Pension and Retirement Fund of Chicago of the amount by which the total available amount of all other appropriations to that Retirement Fund for the payment of State contributions is less than the total amount of the vouchers for required State contributions lawfully submitted by the Retirement Fund for that month under Section 17-127 of the Illinois Pension Code on a continuing monthly basis. Provides that nothing in the Act shall be construed, interpreted, or otherwise viewed to imply an authorization, desire, or intent to merge or in any other way combine the Public School Teachers' Pension and Retirement Fund of Chicago with any other pension fund. Effective immediately.

 Pension Note (Commission on Gov't Forecasting and Accountability)
 House Bill 2371 would create a continuing appropriation for the Chicago Teachers' Pension Fund. This would guarantee that the State would appropriate to the Fund 0.544% of payroll in years that the Fund has a funded ratio below 90%. For FY 2006 the required appropriation would be $9.9 million. Traditionally, the State contributes $65 million to the Fund, but that amount is not required by statute and would not qualify as a continuing appropriation under House Bill 2371.

Actions 
DateChamber Action
  2/16/2005HouseFiled with the Clerk by Rep. Robert S. Molaro
  2/16/2005HouseFirst Reading
  2/16/2005HouseReferred to Rules Committee
  2/23/2005HouseAssigned to Personnel and Pensions Committee
  3/10/2005HouseDo Pass / Standard Debate Personnel and Pensions Committee; 003-002-000
  3/10/2005HousePlaced on Calendar 2nd Reading - Standard Debate
  3/14/2005HousePension Note Requested by Rep. William B. Black
  3/16/2005HousePension Note Filed
  4/8/2005HouseSecond Reading - Short Debate
  4/8/2005HouseHeld on Calendar Order of Second Reading - Short Debate
  4/15/2005HouseRule 19(a) / Re-referred to Rules Committee
  1/9/2007HouseSession Sine Die

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