PEN CD-CHGO TCHR-RETMT-10 YRS
Synopsis of Bill as introduced:
Amends the Chicago Teacher Article of the Illinois Pension Code.
Provides that a teacher may receive a retirement pension at age 60
with 10 years of service. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
PENSION NOTE (Pension Laws Commission)
Based on the 1999 actuarial valuation, HB 2210 would increase
the accrued liability of the Fund by $26.3 million. The
corresponding increase in total annual cost would be $4.1
million, or 0.27% of payroll.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status