Bill Status of SB 35   94th General Assembly

Short Description:  PENCD-CHGO TCHR-REFUND-AUGMENT

Senate Sponsors
Sen. Iris Y. Martinez

Last Action  View All Actions

DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/17-116from Ch. 108 1/2, par. 17-116
40 ILCS 5/17-119.1
30 ILCS 805/8.29 new

Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that the service retirement pension for a teacher who retires on or after the effective date of this amendatory Act shall be 2.4% (now 2.2%) of average salary for each year of creditable service. Eliminates the required contribution for converting past service to the augmented retirement formula, and provides for a refund of such contributions already paid. Also provides for recalculation of the pension and a lump sum payment of the difference between the augmented and unaugmented rates for certain pensioners. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/26/2005SenateFiled with Secretary by Sen. Iris Y. Martinez; Prefiled on January 11, 2005
  1/26/2005SenateFirst Reading
  1/26/2005SenateReferred to Rules
  1/9/2007SenateSession Sine Die

Back To Top