91st General Assembly Summary of HB3449    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
MURPHY.

Short description: 
PENCD-CHGO TCHR-30 YRS ANY AGE                                             

Synopsis of Bill as introduced:
        Amends the  Chicago  Teacher  Article  of  the  Pension  Code  to      
   eliminate  the  age  discount  for  persons  with at least 30 years of      
   service who retire before age 60.  Amends the State  Mandates  Act  to      
   require implementation without reimbursement.  Effective immediately.       
          PENSION NOTE (Pension Laws Commission)                               
           Increase in accrued liabilities                 $ 79.1 million      
           Increase in total annual cost (0.52% of payroll)$  7.5 million      
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

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


   END OF INQUIRY 


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