Senate Sponsors: MOLARO. Short description: PEN CD-CHGO TCHR-STATE FUNDING Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Pension Code. Provides that the annual State contribution to the Fund shall be no less than 28% of the annual State contribution to the downstate Teachers' Retirement System, beginning in State fiscal year 1999. Effective immediately. PENSION IMPACT NOTE The FY 1999 State contribution to the Chicago Teachers' Fund required by SB 1303 is $148.9 million, based on a TRS contri- bution of $531.9 million. This is $84.0 million more than the $65.0 million the State will contribute to the Fund in FY 1998. The fund has a funded ratio of almost 100% while TRS is funded at 64.5% (as of June 30, 1997). Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status