Bill > SB2861

This bill amends the Chicago Teacher Article of the Illinois Pension Code to require charter schools and contract schools, which are types of educational institutions that operate under a charter or contract with a public entity, to keep all their payroll records and information about pension contributions for at least 5 years from the date they are created. This change is intended to ensure that these schools maintain adequate records for pension purposes, which is crucial for the financial health of the pension fund. The bill takes effect immediately upon becoming law.

Labor and Employment

https://www.ilga.gov/Legislation/BillStatus?DocNum=2861&GAID=18&DocTypeID=SB&SessionID=114&GA=104