Reversing caps on pension spiking

BETA
Introduced July 25, 2018
Status: Introduced

45%

55%

Summary

Amends the Downstate Teachers and State Universities Articles of the Illinois Pension Code. Requires an employer to make an additional employer contribution for a participant whose earnings for any academic year used to determine the final rate of earnings exceed the amount of his or her earnings with the same employer for the previous academic year by more than 6% (instead of 3%). Makes conforming changes. Effective immediately.

Last Action

Referred to Assignments