Date	Chamber	Action
1/9/2007	Senate	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/17-116

from Ch. 108 1/2, par. 17-116

40 ILCS 5/17-119.1

30 ILCS 805/8.30 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 

Date	Chamber	Action
1/12/2006	Senate	Filed with Secretary by Sen. Iris Y. Martinez
1/12/2006	Senate	First Reading
1/12/2006	Senate	Referred to Rules
1/9/2007	Senate	Session Sine Die

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