40 ILCS 5/17-125 from Ch. 108 1/2, par. 17-125
30 ILCS 805/8.25 new
Amends the Chicago Teachers Article of the Illinois Pension Code.
Provides that refunds of certain contributions shall include interest
thereon at the rate of 5% per year, compounded annually. Amends the
State Mandates Act to require implementation without reimbursement.
PENSION NOTE (Pension Laws Commission)
According to the Fund's actuary, HB 2212 would increase the
accrued liability of the Fund by $14.8 million. The resulting
increase in total annual cost is estimated to be $2.4 million,
or 0.16% of payroll.
FEB-22-2001 H FILED WITH CLERK
FEB-22-2001 H FIRST READING
FEB-22-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES
FEB-23-2001 H ASSIGNED TO COMMITTEE PERS PENSION
MAR-12-2001 H PENSION NOTE FILED
MAR-12-2001 H COMMITTEE PERS PENSION
MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL
JAN-07-2003 H SESSION SINE DIE
END OF INQUIRY
Full Text Bill Summary