Senate Sponsors: MOLARO. Short description: PEN CD-CHGO TCHR-ST CONTRIB Synopsis of Bill as introduced: Amends the Chicago Teacher Article of the Pension Code. Provides for mandatory State contributions to the Chicago Teacher Pension Fund. Effective immediately. PENSION NOTE (Pension Laws Commission) SB 783 would provide additional State funding to the CTRS Fund. The increase in the required contribution would be equal to 20% of the increase in TRS appropriation over FY2001 levels, or an estimated $18.2 million in FY2002. The estimated required contributions to TRS, and the resulting increase in contribu- tions to the CTRS Fund, for selected years, are as follows: FY2002 Projected TRS contributions $ 810.6 million Additional CTRS contributions $ 18.2 million FY2005 Projected TRS contributions $1,081.1 million Additional CTRS contributions $ 72.3 million FY2010 Projected TRS contributions $1,621.0 million Additional CTRS contributions $ 180.3 million FY2020 Projected TRS contributions $2,173.1 million Additional CTRS contributions $ 290.7 million FY2030 Projected TRS contributions $3,550.0 million Additional CTRS contributions $ 566.1 million FY2040 Projected TRS contributions $5,821.1 million Additional CTRS contributions $1,020.3 million FY2045 Projected TRS contributions $7,433.9 million Additional CTRS contributions $1,342.9 million 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