Senate Sponsors: PARKER. Short description: PEN CD-AUGMENTED RATE-CONTRIB Synopsis of Bill as introduced: Amends the Downstate and Chicago Teacher Articles of the Illinois Pension Code. Allows certain persons who paid an optional contribution in order to receive an augmented retirement annuity to have the contribution recalculated to reflect the changes to the retirement formula that were enacted in Public Act 91-17. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) SB 379 would not increase the accrued liabilities or annual costs of the Funds. Rather, an undetermined amount of optional contributions to upgrade prior service would be refunded to members of the Fund who retired between May 27, 1998 and June 4, 1999. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status