Senate Sponsors: MOLARO. Short description: PEN CD-ART 17-SURVIVOR REFUND Synopsis of Bill as introduced: Amends the Chicago Teachers Article of the Illinois Pension Code. Provides that, upon the retirement of a married teacher, if all of the teacher's eligible survivors predeceased him or her, the total amount contributed by the teacher or otherwise paid by deductions from salary for survivor's pension shall be refunded to the teacher together with interest thereon at the rate of 5% per year, compounded annually from the date of retirement to the date of repayment by the Fund. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) According to the Fund's actuary, the fiscal impact of SB 670 is expected to be small. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status