Bill Status of HB 4826   96th General Assembly


Short Description:  PENCD-CHIC TCHR-HEALTH INS MAX

House Sponsors
Rep. William Davis

Last Action  View All Actions

DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/17-142.1from Ch. 108 1/2, par. 17-142.1
30 ILCS 805/8.34 new

Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. In provisions concerning the Board of Trustees of the Public School Teachers' Pension and Retirement Fund of Chicago's power to defray health insurance costs, increases the maximum total payments for that purpose to $100,000,000 (from $65,000,000) plus any amount authorized to be paid in the preceding year that was not actually paid by the Board, including interest earned thereon. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

 Pension Note (Government Forecasting & Accountability)
 HB 4826 would increase the annual cost of the pension fund by $35 million. To the extent that these assets would not be available for reinvestment, the accrued liabilities of the fund would increase and greater employer contributions would be required in future years.

 Fiscal Note (Dept. of Revenue)
 HB 4826 will have no fiscal impact on State revenues. This note does not address its impact on the pension system.

Actions 
DateChamber Action
  1/12/2010HouseFiled with the Clerk by Rep. William Davis
  1/12/2010HouseFirst Reading
  1/12/2010HouseReferred to Rules Committee
  2/16/2010HouseAssigned to Personnel and Pensions Committee
  2/25/2010HouseDo Pass / Short Debate Personnel and Pensions Committee; 009-000-000
  2/25/2010HousePlaced on Calendar 2nd Reading - Short Debate
  3/2/2010HouseSecond Reading - Short Debate
  3/2/2010HouseHeld on Calendar Order of Second Reading - Short Debate
  3/2/2010HouseFiscal Note Requested by Rep. William B. Black
  3/2/2010HousePension Note Requested by Rep. William B. Black
  3/4/2010HousePension Note Filed
  3/9/2010HouseFiscal Note Filed
  3/18/2010HouseSecond Reading - Short Debate
  3/18/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/25/2010HouseThird Reading - Consideration Postponed
  3/25/2010HousePlaced on Calendar - Consideration Postponed
  3/26/2010HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2011HouseSession Sine Die

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