PEN CD-CHGO TCHR-GRIEVANCE-ERI
Synopsis of Bill as introduced:
Amends the Chicago Teacher Article of the Illinois Pension Code.
Provides a recalculation of retirement pension for a person who
retired on June 15, 1998 and received a backpay award as a result of a
grievance proceeding. Backdates the pension to October 1, 1994,
authorizes inclusion of the backpay award, and in addition authorizes
the person to receive early retirement incentives (up to 5 years of
creditable service and 5 years of age enhancement). Amends the State
Mandates Act to require implementation without reimbursement.
PENSION NOTE (Pension Laws Commission)
The fiscal impact of SB 278 has not been determined, but is
estimated to be minor, as the number of members who would be
eligible to participate in the ERI is expect to be very small.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status