Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/17-129

from Ch. 108 1/2, par. 17-129

30 ILCS 805/8.37 new

Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. In a provision that reduces the required annual Board of Education contribution to the Fund by the amount of any State contribution, makes the reduction apply only if the Board of the Fund certifies that the total assets of the Fund are at least 90% of the total actuarial liabilities of the Fund as of June 30 of the previous fiscal year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Pension Note (Government Forecasting & Accountability)

HB 2751 would have a positive impact upon the Chicago Teachers Pension Fund (CTPF). According to the pension fund's 2012 actuarial valuation, CTPF had assets of $9.4 billion (actuarial value) and liabilities of $17.4 billion and a funding ration of 54.1%. Under HB 2751, contributions by the State would be made in addition to the Board of Education contributions until CTPF reaches a 90% funding ratio. On February 14, 2013, CTPF certified a FY 2014 State contribution in the amount of $11.9 million.

Actions 

Date	Chamber	Action
2/21/2013	House	Filed with the Clerk by Rep. Arthur Turner
2/21/2013	House	First Reading
2/21/2013	House	Referred to Rules Committee
3/4/2013	House	Assigned to Personnel and Pensions Committee
3/13/2013	House	Pension Note Filed
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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