Bill > HB5682

This bill appropriates funds for the ordinary and contingent expenses of the Teachers' Retirement System of the State of Illinois for the fiscal year beginning July 1, 2026, totaling over $7.1 billion from various funds, including the Common School Fund, Education Assistance Fund, and General Revenue Fund. Specifically, it allocates over $6.5 billion from the Common School Fund for the State's contribution to the Teachers' Retirement System, $200,000 from the Education Assistance Fund for costs related to minimum retirement allowances, and $500,000 from the Common School Fund for employer contributions for certain teachers. Additionally, it appropriates over $141 million from the General Revenue Fund to the Teacher Health Insurance Security Fund for the State's contribution to teachers' health insurance, and allocates over $16 million and $351 million from the Common School Fund to the Public School Teachers' Pension and Retirement Fund of Chicago for its State contributions. The bill takes effect on July 1, 2026.

https://www.ilga.gov/Legislation/BillStatus?DocNum=5682&GAID=18&DocTypeID=HB&SessionID=114&GA=104