Senate Sponsors: MOLARO. Short description: PEN CD-CHGO TCHR-STATE FUNDING Synopsis of Bill as introduced: Amends the Illinois Pension Code to provide additional State funding for the Chicago Teachers Pension Fund. Increases the annual State contribution to the Fund over a 7-year phase-in period beginning in fiscal year 2001, so that by fiscal year 2008, the annual State contribution is sufficient, with the other revenues available to the Fund, to meet the normal cost and amortize the unfunded liabilities of the Fund over a period of 40 years. Effective immediately. PENSION NOTE (Pension Laws Commission) FY State Contribution 2001 $ 75.0 million 2002 82.7 million 2005 108.1 million 2020 186.0 million 2030 270.9 million 2040 394.9 million 2047 519.5 million Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status