Bill Status of HB3584 94th General Assembly
Short Description: PENCD-TRS-ADMINISTRATIVE
Rep. Gary Hannig
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Downstate Teachers Article of the Illinois Pension Code. Provides for participation in the System by current System employees who elect to participate after a change in position. Includes within the membership of the System persons employed in a professional position by the State Board of Education. Excludes from membership executives of certain boards engaged in the service of public education. Eliminates the 100-day TRS membership waiting period for persons receiving a retirement annuity under the Chicago Teacher Article. Requires 1.5 years of contributing service (rather than just creditable service) to qualify for a survivor's benefit upon death in service. Permits certain teachers who interrupted service under the Chicago Teacher Article because of pregnancy to purchase TRS credit for the period of leave. Reduces the required contribution for certain persons electing to receive the augmented 2.2% retirement formula, and incorporates the 2.2% retirement formula into the calculation of the single-sum retirement benefit. In the definition of "accumulated contributions", specifies that interest is neither accumulated nor paid on contributions for the automatic increase in base pension. Deletes a provision authorizing the Board to prescribe rules relating to contribution statements. Repeals certain obsolete provisions, including provisions relating to SIU employment, transfers by county sheriffs, exemptions from paying certain employer contributions, and increases in certain retirement and disability annuities that were being paid in 1947. Effective immediately.