92nd General Assembly
Summary of SB0672
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Senate Sponsors:
MOLARO.

Short description: 
PEN CD-ART 17-UNUSED SICK DAYS                                             

Synopsis of Bill as introduced:
        Amends the Chicago Teacher Article of the Illinois Pension  Code.      
   Increases  the maximum number of sick days that may be used to compute      
   pension service credit from 244 to 315.  Amends the State Mandates Act      
   to   require   implementation   without   reimbursement.     Effective      
   immediately.                                                                
          PENSION NOTE (Pension Laws Commission)                               
          Based on the 1999 actuarial valuation, SB 672 would increase         
          the accrued liability of the Fund by an estimated $20.3 mil-         
          lion. The increase in total annual cost is estimated to be           
          $2.4 million, or 0.16% of payroll.                                   
 
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 



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