Bill Status of HB 604   95th General Assembly


Short Description:  PEN CD-CHGO TCHR-RETMT INCR

House Sponsors
Rep. Angelo Saviano

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/17-116from Ch. 108 1/2, par. 17-116
40 ILCS 5/17-119from Ch. 108 1/2, par. 17-119
30 ILCS 805/8.31 new

Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Establishes a minimum retirement pension of $1,500 per month for teachers with at least 20 years of service credit in the Fund. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

 Pension Note (Government Forecasting & Accountability)
 According to the Fund’s actuary, HB 604 would increase the accrued liabilities of the fund by an estimated $149.9 million. The resulting increase in total annual costs is estimated to be $9.4 million, or 0.53% of payroll.

Actions 
DateChamber Action
  2/2/2007HouseFiled with the Clerk by Rep. Angelo Saviano
  2/5/2007HouseFirst Reading
  2/5/2007HouseReferred to Rules Committee
  2/7/2007HouseAssigned to Personnel and Pensions Committee
  2/15/2007HousePension Note Filed
  2/27/2007HouseRe-assigned to Executive Committee
  3/23/2007HouseRule 19(a) / Re-referred to Rules Committee
  1/13/2009HouseSession Sine Die

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