Bill Status of SB3742 97th General Assembly
Short Description: PEN CD-CHI TCHR-CPS FUNDING
Sen. Kwame Raoul - Iris Y. Martinez
| 1/8/2013||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Chicago Teacher Article of the Illinois Pension Code. Increases the Board of Education's total required contribution to the Fund for fiscal year 2013 from $196,000,000 to $307,485,000. In a provision that reduces the required annual Board of Education contribution to the Fund by the amount of any State contribution, makes the reduction apply only if the Board has certified in the previous fiscal year that the total assets of the Fund are at least 90% of the total actuarial liabilities of the Fund. Effective immediately.
|Date||Chamber|| Action|| 2/10/2012||Senate||Filed with Secretary by Sen. Kwame Raoul|| 2/10/2012||Senate||First Reading|| 2/10/2012||Senate||Referred to Assignments|| 2/24/2012||Senate||Assigned to Pensions and Investments|| 3/7/2012||Senate||Added as Chief Co-Sponsor Sen. Iris Y. Martinez|| 3/9/2012||Senate||Rule 2-10 Committee Deadline Established As March 30, 2012|| 3/30/2012||Senate||Rule 3-9(a) / Re-referred to Assignments|| 1/8/2013||Senate||Session Sine Die|