Bill Status of HB4765 94th General Assembly
Short Description: PENCD-CHGO TCHR-REFUND-AUGMENT
Rep. Richard T. Bradley
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. 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.