Bill Status of SB1926 102nd General Assembly
Short Description: PEN CD-CHI TCHR-STATE FUNDING
Sen. Emil Jones, III - Napoleon Harris, III
| 1/13/2015||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
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.