IL HB5964

Appropriates $2,702,278,000 from the Common School Fund to the Teachers' Retirement System of the State of Illinois for the State's contribution.

Appropriates $1,200,000 from the Education Assistance Fund to the Teachers' Retirement System for additional costs related to establishing minimum retirement allowances under Illinois Pension Code Sections 16-136.2 and 16-136.3.

Appropriates $120,000 from the Common School Fund to the Illinois Teachers' Retirement System for employer contributions required by the State under Illinois Pension Code Section 16-158(e).

Appropriates $191,284,707 from the General Revenue Fund to the Public School Teachers' Pension and Retirement Fund of Chicago for the State's normal cost contribution for fiscal year beginning July 1, 2012.

Takes effect July 1, 2012.