Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/17-127

from Ch. 108 1/2, par. 17-127

Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that, beginning in State fiscal year 2014, the State shall make annual contributions to the Fund. For State fiscal year 2014, the contribution shall be $343,860,000. For each year thereafter, the Board shall certify to the Governor by December 15th the amount of the required State contribution for the coming fiscal year. The certified contribution shall be equal to 10% of the certified State contribution to the downstate Teachers' Retirement System. Effective immediately.

Pension Note (Government Forecasting & Accountability)

HB 2652 would have a positive impact upon the Chicago Teachers Pension Fund (CTPF). According to the pension fund's 2012 actuarial valuation, CTPF had assets of $9.4 billion (actuarial value) and liabilities of $17.4 billion and a funding ratio of 54.1%. On February 14, 2013, CTPF certified a FY 2014 State contribution in the amount of $11.9 million. If HB 2652 is enacted into law, the FY 2014 State contribution to CTPF would increase to $343.9 million.

Actions 

Date	Chamber	Action
2/21/2013	House	Filed with the Clerk by Rep. Monique D. Davis
2/21/2013	House	First Reading
2/21/2013	House	Referred to Rules Committee
3/4/2013	House	Assigned to Personnel and Pensions Committee
3/13/2013	House	Pension Note Filed
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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