Bill Title: Amends the Chicago Teacher Article of the Illinois Pension Code. Increases the Board of Education's total required contribution to the Fund for fiscal year 2013 from $196,000,000 to $307,485,000. In a provision that reduces the required annual Board of Education contribution to the Fund by the amount of any State contribution, makes the reduction apply only if the Board has certified in the previous fiscal year that the total assets of the Fund are at least 90% of the total actuarial liabilities of the Fund. Effective immediately.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3742 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Kwame Raoul [D]	Primary	Sponsored Bills	SD-013	FollowTheMoney	Ballotpedia	VoteSmart
Senator Iris Martinez [D]	Cosponsor	Sponsored Bills	SD-020	FollowTheMoney	Ballotpedia	VoteSmart

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