IL HB3071

Increases Chicago Teachers' Pension Fund Board of Trustees from 12 to 13 members by adding one pensioner member.

Increases pensioner representation on the Board from 3 to 4 members, elected during the first week of November of each odd-numbered year for 2-year terms.

Requires candidates for pensioner board positions to be nominated by petitions signed by at least 100 pensioners.

Amends the State Mandates Act to exempt this bill from state reimbursement requirements for implementation.

Takes effect immediately upon becoming law.