Illinois General Assembly - Bill Status for HB4275
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 Bill Status of HB4275  95th General Assembly


House Sponsors
Rep. Robert S. Molaro

Last Action
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 5/17-119.1
30 ILCS 805/8.32 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.

DateChamber Action
  1/9/2008HouseFiled with the Clerk by Rep. Robert S. Molaro
  1/9/2008HouseFirst Reading
  1/9/2008HouseReferred to Rules Committee
  1/13/2009HouseSession Sine Die

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