92nd General Assembly
Summary of SB1547
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Senate Sponsors:

Short description: 
PENCD-ART 17-OPTIONAL INCREASE                                             

Synopsis of Bill as introduced:
        Amends the Chicago Teachers Article of the Illinois Pension Code.      
   Provides that if a member dies after having made only a portion of the      
   contributions  necessary  to  qualify  for  an  optional  increase  in      
   retirement annuity and there is a  survivor's  or  children's  benefit      
   payable,  than all payments already made shall be retained by the Fund      
   and all survivor's or children's benefits shall be  calculated  as  if      
   all of the contributions were paid in full.  Amends the State Mandates      
   Act   to  require  implementation  without  reimbursement.   Effective      
          PENSION NOTE (Pension Laws Commission)                               
          According to the Fund's actuary, the fiscal impact of SB 1547        
          is estimated to be minor.                                            
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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