LYONS,JOSEPH, LANG, SAVIANO AND ERWIN.
PEN CD-CHGO TCH-RETMT DISCOUNT
Synopsis of Bill as introduced:
Amends the Chicago Teacher Article of the Pension Code to extend
the deadline for early retirement without discount from June 30, 1995
to June 30, 2005; applies retroactively to persons who have retired
since June 30, 1995. Amends the State Mandates Act to require
implementation without reimbursement. Effective immediately.
Fiscal impact is estimated to be minor, able to be covered by
FISCAL NOTE (Chicago Teachers' Retirement System)
Assuming 80% participation, estimated financial impact would be
H-am 1 poses no change from previous pension note.
FISCAL NOTE (State Bd. of Ed.)
SBE is not able to provide fiscal information.
STATE MANDATES FISCAL NOTE (SBE)
No change from SBE fiscal note.
HOUSE AMENDMENT NO. 1.
Changes the new deadline from 2005 to 2002.
PENSION NOTE, H-AM 1
No change from previous pension notes.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status