summary
Introduced
01/31/2025
01/31/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that when computing days of validated service, contributors shall receive the greater of: (1) one day of service credit for each day for which they are paid salary representing a partial or a full day of employment rendered to an employer or the Board of Trustees of the Fund; or (2) 10 days of service credit for each 10-day period of employment in which the contributor worked 50% or more of the regularly scheduled hours (instead of one day of service credit for each day for which they are paid salary representing a partial or a full day of employment rendered to an employer or the Board).
AI Summary
This bill amends the Illinois Pension Code, specifically the Chicago Teacher Pension Fund service calculation method. Currently, contributors receive one day of service credit for each day they are paid salary. The bill modifies this by allowing contributors to receive the greater of two calculation methods: (1) one day of service credit for each day they are paid salary (representing a partial or full day of employment), or (2) 10 days of service credit for each 10-day period where they worked 50% or more of their regularly scheduled hours. This change provides more flexibility in how pension service credit is calculated, potentially benefiting teachers who may have variable work schedules or part-time employment. The bill aims to ensure that contributors receive fair service credit that more accurately reflects their employment, which could impact their overall pension benefits and retirement planning.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Rule 3-9(a) / Re-referred to Assignments (on 03/21/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1450&GAID=18&DocTypeID=SB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/SB/10400SB1450.htm |
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