90th General Assembly Summary of HB0355    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
CAPPARELLI-BUGIELSKI-BURKE-LYONS,JOSEPH-SANTIAGO, 
   MCAULIFFE AND SAVIANO.

Short description: 
PEN CD-CHGO TCH-30 YRS ANY AGE                                             

Synopsis of Bill as introduced:
        Amends the  Chicago  Teacher  Article  of  the  Pension  Code  to      
   eliminate  the  age  discount  for  persons  with at least 30 years of      
   service who retire before age 60.  Amends the State  Mandates  Act  to      
   require implementation without reimbursement.  Effective immediately.       
          PENSION IMPACT NOTE                                                  
          HB 355 is based on the August 1995 actuarial valuation:              
           Increase in accrued liability                           $29.6M      
           Increase in total annual cost                           $ 2.9M      
           Increase in total annual cost as a % of payroll          0.24%      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 


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