Illinois General Assembly - Bill Status for SB2269
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 Bill Status of SB2269  94th General Assembly


Senate Sponsors
Sen. Iris Y. Martinez

Last Action
DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/17-116from Ch. 108 1/2, par. 17-116
40 ILCS 5/17-119.1
30 ILCS 805/8.30 new

Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that the service retirement pension for a teacher who retires on or after the effective date of this amendatory Act shall be 2.4% (now 2.2%) of average salary for each year of creditable service. Eliminates the required contribution for converting past service to the augmented retirement formula, and provides for a refund of such contributions already paid. Also provides for recalculation of the pension and a lump sum payment of the difference between the augmented and unaugmented rates for certain pensioners. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

DateChamber Action
  1/12/2006SenateFiled with Secretary by Sen. Iris Y. Martinez
  1/12/2006SenateFirst Reading
  1/12/2006SenateReferred to Rules
  1/9/2007SenateSession Sine Die

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