90th General Assembly
Summary of HB3570
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House Sponsors:
SAVIANO, LYONS,JOSEPH AND BRADLEY.

Short description: 
PENCD-CHGO TCHR-AVERAGE SALARY                                             

Synopsis of Bill as introduced:
        Amends the Chicago Teacher Article of the Pension Code to  change      
   the  period used to determine average salary, from 4 years to 3 years.      
   Amends the  State  Mandates  Act  to  require  implementation  without      
   reimbursement.  Effective immediately.                                      
          PENSION NOTE (Pension Laws Commission)                               
          The increase in accrued liability is estimated to be $77.6           
          million. The increase in total annual cost is estimated to be        
          $7.9 million, or 0.58% of payroll. The total annual cost would       
          increase commensurate with payroll.                                  
 
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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