Illinois 2023-2024 Regular Session

Illinois House Bill HB0300 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	Public Act 103-0515
2	1		HB0300 EnrolledLRB103 03827 RJT 48833 b HB0300 Enrolled LRB103 03827 RJT 48833 b
3	2		HB0300 Enrolled LRB103 03827 RJT 48833 b
4		-	AN ACT concerning education.
5		-	Be it enacted by the People of the State of Illinois,
6		-	represented in the General Assembly:
7		-	Section 5. The Illinois Pension Code is amended by
8		-	changing Section 16-158 as follows:
9		-	(40 ILCS 5/16-158) (from Ch. 108 1/2, par. 16-158)
10		-	Sec. 16-158. Contributions by State and other employing
11		-	units.
12		-	(a) The State shall make contributions to the System by
13		-	means of appropriations from the Common School Fund and other
14		-	State funds of amounts which, together with other employer
15		-	contributions, employee contributions, investment income, and
16		-	other income, will be sufficient to meet the cost of
17		-	maintaining and administering the System on a 90% funded basis
18		-	in accordance with actuarial recommendations.
19		-	The Board shall determine the amount of State
20		-	contributions required for each fiscal year on the basis of
21		-	the actuarial tables and other assumptions adopted by the
22		-	Board and the recommendations of the actuary, using the
23		-	formula in subsection (b-3).
24		-	(a-1) Annually, on or before November 15 until November
25		-	15, 2011, the Board shall certify to the Governor the amount of
26		-	the required State contribution for the coming fiscal year.
	3	+	1 AN ACT concerning education.
	4	+	2 Be it enacted by the People of the State of Illinois,
	5	+	3 represented in the General Assembly:
	6	+	4 Section 5. The Illinois Pension Code is amended by
	7	+	5 changing Section 16-158 as follows:
	8	+	6 (40 ILCS 5/16-158) (from Ch. 108 1/2, par. 16-158)
	9	+	7 Sec. 16-158. Contributions by State and other employing
	10	+	8 units.
	11	+	9 (a) The State shall make contributions to the System by
	12	+	10 means of appropriations from the Common School Fund and other
	13	+	11 State funds of amounts which, together with other employer
	14	+	12 contributions, employee contributions, investment income, and
	15	+	13 other income, will be sufficient to meet the cost of
	16	+	14 maintaining and administering the System on a 90% funded basis
	17	+	15 in accordance with actuarial recommendations.
	18	+	16 The Board shall determine the amount of State
	19	+	17 contributions required for each fiscal year on the basis of
	20	+	18 the actuarial tables and other assumptions adopted by the
	21	+	19 Board and the recommendations of the actuary, using the
	22	+	20 formula in subsection (b-3).
	23	+	21 (a-1) Annually, on or before November 15 until November
	24	+	22 15, 2011, the Board shall certify to the Governor the amount of
	25	+	23 the required State contribution for the coming fiscal year.
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33		-	The certification under this subsection (a-1) shall include a
34		-	copy of the actuarial recommendations upon which it is based
35		-	and shall specifically identify the System's projected State
36		-	normal cost for that fiscal year.
37		-	On or before May 1, 2004, the Board shall recalculate and
38		-	recertify to the Governor the amount of the required State
39		-	contribution to the System for State fiscal year 2005, taking
40		-	into account the amounts appropriated to and received by the
41		-	System under subsection (d) of Section 7.2 of the General
42		-	Obligation Bond Act.
43		-	On or before July 1, 2005, the Board shall recalculate and
44		-	recertify to the Governor the amount of the required State
45		-	contribution to the System for State fiscal year 2006, taking
46		-	into account the changes in required State contributions made
47		-	by Public Act 94-4.
48		-	On or before April 1, 2011, the Board shall recalculate
49		-	and recertify to the Governor the amount of the required State
50		-	contribution to the System for State fiscal year 2011,
51		-	applying the changes made by Public Act 96-889 to the System's
52		-	assets and liabilities as of June 30, 2009 as though Public Act
53		-	96-889 was approved on that date.
54		-	(a-5) On or before November 1 of each year, beginning
55		-	November 1, 2012, the Board shall submit to the State Actuary,
56		-	the Governor, and the General Assembly a proposed
57		-	certification of the amount of the required State contribution
58		-	to the System for the next fiscal year, along with all of the
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	34	+	1 The certification under this subsection (a-1) shall include a
	35	+	2 copy of the actuarial recommendations upon which it is based
	36	+	3 and shall specifically identify the System's projected State
	37	+	4 normal cost for that fiscal year.
	38	+	5 On or before May 1, 2004, the Board shall recalculate and
	39	+	6 recertify to the Governor the amount of the required State
	40	+	7 contribution to the System for State fiscal year 2005, taking
	41	+	8 into account the amounts appropriated to and received by the
	42	+	9 System under subsection (d) of Section 7.2 of the General
	43	+	10 Obligation Bond Act.
	44	+	11 On or before July 1, 2005, the Board shall recalculate and
	45	+	12 recertify to the Governor the amount of the required State
	46	+	13 contribution to the System for State fiscal year 2006, taking
	47	+	14 into account the changes in required State contributions made
	48	+	15 by Public Act 94-4.
	49	+	16 On or before April 1, 2011, the Board shall recalculate
	50	+	17 and recertify to the Governor the amount of the required State
	51	+	18 contribution to the System for State fiscal year 2011,
	52	+	19 applying the changes made by Public Act 96-889 to the System's
	53	+	20 assets and liabilities as of June 30, 2009 as though Public Act
	54	+	21 96-889 was approved on that date.
	55	+	22 (a-5) On or before November 1 of each year, beginning
	56	+	23 November 1, 2012, the Board shall submit to the State Actuary,
	57	+	24 the Governor, and the General Assembly a proposed
	58	+	25 certification of the amount of the required State contribution
	59	+	26 to the System for the next fiscal year, along with all of the
59	60
60	61
61		-	actuarial assumptions, calculations, and data upon which that
62		-	proposed certification is based. On or before January 1 of
63		-	each year, beginning January 1, 2013, the State Actuary shall
64		-	issue a preliminary report concerning the proposed
65		-	certification and identifying, if necessary, recommended
66		-	changes in actuarial assumptions that the Board must consider
67		-	before finalizing its certification of the required State
68		-	contributions. On or before January 15, 2013 and each January
69		-	15 thereafter, the Board shall certify to the Governor and the
70		-	General Assembly the amount of the required State contribution
71		-	for the next fiscal year. The Board's certification must note
72		-	any deviations from the State Actuary's recommended changes,
73		-	the reason or reasons for not following the State Actuary's
74		-	recommended changes, and the fiscal impact of not following
75		-	the State Actuary's recommended changes on the required State
76		-	contribution.
77		-	(a-10) By November 1, 2017, the Board shall recalculate
78		-	and recertify to the State Actuary, the Governor, and the
79		-	General Assembly the amount of the State contribution to the
80		-	System for State fiscal year 2018, taking into account the
81		-	changes in required State contributions made by Public Act
82		-	100-23. The State Actuary shall review the assumptions and
83		-	valuations underlying the Board's revised certification and
84		-	issue a preliminary report concerning the proposed
85		-	recertification and identifying, if necessary, recommended
86		-	changes in actuarial assumptions that the Board must consider
87	62
88	63
89		-	before finalizing its certification of the required State
90		-	contributions. The Board's final certification must note any
91		-	deviations from the State Actuary's recommended changes, the
92		-	reason or reasons for not following the State Actuary's
93		-	recommended changes, and the fiscal impact of not following
94		-	the State Actuary's recommended changes on the required State
95		-	contribution.
96		-	(a-15) On or after June 15, 2019, but no later than June
97		-	30, 2019, the Board shall recalculate and recertify to the
98		-	Governor and the General Assembly the amount of the State
99		-	contribution to the System for State fiscal year 2019, taking
100		-	into account the changes in required State contributions made
101		-	by Public Act 100-587. The recalculation shall be made using
102		-	assumptions adopted by the Board for the original fiscal year
103		-	2019 certification. The monthly voucher for the 12th month of
104		-	fiscal year 2019 shall be paid by the Comptroller after the
105		-	recertification required pursuant to this subsection is
106		-	submitted to the Governor, Comptroller, and General Assembly.
107		-	The recertification submitted to the General Assembly shall be
108		-	filed with the Clerk of the House of Representatives and the
109		-	Secretary of the Senate in electronic form only, in the manner
110		-	that the Clerk and the Secretary shall direct.
111		-	(b) Through State fiscal year 1995, the State
112		-	contributions shall be paid to the System in accordance with
113		-	Section 18-7 of the School Code.
114		-	(b-1) Beginning in State fiscal year 1996, on the 15th day
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117		-	of each month, or as soon thereafter as may be practicable, the
118		-	Board shall submit vouchers for payment of State contributions
119		-	to the System, in a total monthly amount of one-twelfth of the
120		-	required annual State contribution certified under subsection
121		-	(a-1). From March 5, 2004 (the effective date of Public Act
122		-	93-665) through June 30, 2004, the Board shall not submit
123		-	vouchers for the remainder of fiscal year 2004 in excess of the
124		-	fiscal year 2004 certified contribution amount determined
125		-	under this Section after taking into consideration the
126		-	transfer to the System under subsection (a) of Section 6z-61
127		-	of the State Finance Act. These vouchers shall be paid by the
128		-	State Comptroller and Treasurer by warrants drawn on the funds
129		-	appropriated to the System for that fiscal year.
130		-	If in any month the amount remaining unexpended from all
131		-	other appropriations to the System for the applicable fiscal
132		-	year (including the appropriations to the System under Section
133		-	8.12 of the State Finance Act and Section 1 of the State
134		-	Pension Funds Continuing Appropriation Act) is less than the
135		-	amount lawfully vouchered under this subsection, the
136		-	difference shall be paid from the Common School Fund under the
137		-	continuing appropriation authority provided in Section 1.1 of
138		-	the State Pension Funds Continuing Appropriation Act.
139		-	(b-2) Allocations from the Common School Fund apportioned
140		-	to school districts not coming under this System shall not be
141		-	diminished or affected by the provisions of this Article.
142		-	(b-3) For State fiscal years 2012 through 2045, the
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	70	+	1 actuarial assumptions, calculations, and data upon which that
	71	+	2 proposed certification is based. On or before January 1 of
	72	+	3 each year, beginning January 1, 2013, the State Actuary shall
	73	+	4 issue a preliminary report concerning the proposed
	74	+	5 certification and identifying, if necessary, recommended
	75	+	6 changes in actuarial assumptions that the Board must consider
	76	+	7 before finalizing its certification of the required State
	77	+	8 contributions. On or before January 15, 2013 and each January
	78	+	9 15 thereafter, the Board shall certify to the Governor and the
	79	+	10 General Assembly the amount of the required State contribution
	80	+	11 for the next fiscal year. The Board's certification must note
	81	+	12 any deviations from the State Actuary's recommended changes,
	82	+	13 the reason or reasons for not following the State Actuary's
	83	+	14 recommended changes, and the fiscal impact of not following
	84	+	15 the State Actuary's recommended changes on the required State
	85	+	16 contribution.
	86	+	17 (a-10) By November 1, 2017, the Board shall recalculate
	87	+	18 and recertify to the State Actuary, the Governor, and the
	88	+	19 General Assembly the amount of the State contribution to the
	89	+	20 System for State fiscal year 2018, taking into account the
	90	+	21 changes in required State contributions made by Public Act
	91	+	22 100-23. The State Actuary shall review the assumptions and
	92	+	23 valuations underlying the Board's revised certification and
	93	+	24 issue a preliminary report concerning the proposed
	94	+	25 recertification and identifying, if necessary, recommended
	95	+	26 changes in actuarial assumptions that the Board must consider
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145		-	minimum contribution to the System to be made by the State for
146		-	each fiscal year shall be an amount determined by the System to
147		-	be sufficient to bring the total assets of the System up to 90%
148		-	of the total actuarial liabilities of the System by the end of
149		-	State fiscal year 2045. In making these determinations, the
150		-	required State contribution shall be calculated each year as a
151		-	level percentage of payroll over the years remaining to and
152		-	including fiscal year 2045 and shall be determined under the
153		-	projected unit credit actuarial cost method.
154		-	For each of State fiscal years 2018, 2019, and 2020, the
155		-	State shall make an additional contribution to the System
156		-	equal to 2% of the total payroll of each employee who is deemed
157		-	to have elected the benefits under Section 1-161 or who has
158		-	made the election under subsection (c) of Section 1-161.
159		-	A change in an actuarial or investment assumption that
160		-	increases or decreases the required State contribution and
161		-	first applies in State fiscal year 2018 or thereafter shall be
162		-	implemented in equal annual amounts over a 5-year period
163		-	beginning in the State fiscal year in which the actuarial
164		-	change first applies to the required State contribution.
165		-	A change in an actuarial or investment assumption that
166		-	increases or decreases the required State contribution and
167		-	first applied to the State contribution in fiscal year 2014,
168		-	2015, 2016, or 2017 shall be implemented:
169		-	(i) as already applied in State fiscal years before
170		-	2018; and
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173		-	(ii) in the portion of the 5-year period beginning in
174		-	the State fiscal year in which the actuarial change first
175		-	applied that occurs in State fiscal year 2018 or
176		-	thereafter, by calculating the change in equal annual
177		-	amounts over that 5-year period and then implementing it
178		-	at the resulting annual rate in each of the remaining
179		-	fiscal years in that 5-year period.
180		-	For State fiscal years 1996 through 2005, the State
181		-	contribution to the System, as a percentage of the applicable
182		-	employee payroll, shall be increased in equal annual
183		-	increments so that by State fiscal year 2011, the State is
184		-	contributing at the rate required under this Section; except
185		-	that in the following specified State fiscal years, the State
186		-	contribution to the System shall not be less than the
187		-	following indicated percentages of the applicable employee
188		-	payroll, even if the indicated percentage will produce a State
189		-	contribution in excess of the amount otherwise required under
190		-	this subsection and subsection (a), and notwithstanding any
191		-	contrary certification made under subsection (a-1) before May
192		-	27, 1998 (the effective date of Public Act 90-582): 10.02% in
193		-	FY 1999; 10.77% in FY 2000; 11.47% in FY 2001; 12.16% in FY
194		-	2002; 12.86% in FY 2003; and 13.56% in FY 2004.
195		-	Notwithstanding any other provision of this Article, the
196		-	total required State contribution for State fiscal year 2006
197		-	is $534,627,700.
198		-	Notwithstanding any other provision of this Article, the
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201		-	total required State contribution for State fiscal year 2007
202		-	is $738,014,500.
203		-	For each of State fiscal years 2008 through 2009, the
204		-	State contribution to the System, as a percentage of the
205		-	applicable employee payroll, shall be increased in equal
206		-	annual increments from the required State contribution for
207		-	State fiscal year 2007, so that by State fiscal year 2011, the
208		-	State is contributing at the rate otherwise required under
209		-	this Section.
210		-	Notwithstanding any other provision of this Article, the
211		-	total required State contribution for State fiscal year 2010
212		-	is $2,089,268,000 and shall be made from the proceeds of bonds
213		-	sold in fiscal year 2010 pursuant to Section 7.2 of the General
214		-	Obligation Bond Act, less (i) the pro rata share of bond sale
215		-	expenses determined by the System's share of total bond
216		-	proceeds, (ii) any amounts received from the Common School
217		-	Fund in fiscal year 2010, and (iii) any reduction in bond
218		-	proceeds due to the issuance of discounted bonds, if
219		-	applicable.
220		-	Notwithstanding any other provision of this Article, the
221		-	total required State contribution for State fiscal year 2011
222		-	is the amount recertified by the System on or before April 1,
223		-	2011 pursuant to subsection (a-1) of this Section and shall be
224		-	made from the proceeds of bonds sold in fiscal year 2011
225		-	pursuant to Section 7.2 of the General Obligation Bond Act,
226		-	less (i) the pro rata share of bond sale expenses determined by
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	106	+	1 before finalizing its certification of the required State
	107	+	2 contributions. The Board's final certification must note any
	108	+	3 deviations from the State Actuary's recommended changes, the
	109	+	4 reason or reasons for not following the State Actuary's
	110	+	5 recommended changes, and the fiscal impact of not following
	111	+	6 the State Actuary's recommended changes on the required State
	112	+	7 contribution.
	113	+	8 (a-15) On or after June 15, 2019, but no later than June
	114	+	9 30, 2019, the Board shall recalculate and recertify to the
	115	+	10 Governor and the General Assembly the amount of the State
	116	+	11 contribution to the System for State fiscal year 2019, taking
	117	+	12 into account the changes in required State contributions made
	118	+	13 by Public Act 100-587. The recalculation shall be made using
	119	+	14 assumptions adopted by the Board for the original fiscal year
	120	+	15 2019 certification. The monthly voucher for the 12th month of
	121	+	16 fiscal year 2019 shall be paid by the Comptroller after the
	122	+	17 recertification required pursuant to this subsection is
	123	+	18 submitted to the Governor, Comptroller, and General Assembly.
	124	+	19 The recertification submitted to the General Assembly shall be
	125	+	20 filed with the Clerk of the House of Representatives and the
	126	+	21 Secretary of the Senate in electronic form only, in the manner
	127	+	22 that the Clerk and the Secretary shall direct.
	128	+	23 (b) Through State fiscal year 1995, the State
	129	+	24 contributions shall be paid to the System in accordance with
	130	+	25 Section 18-7 of the School Code.
	131	+	26 (b-1) Beginning in State fiscal year 1996, on the 15th day
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228	133
229		-	the System's share of total bond proceeds, (ii) any amounts
230		-	received from the Common School Fund in fiscal year 2011, and
231		-	(iii) any reduction in bond proceeds due to the issuance of
232		-	discounted bonds, if applicable. This amount shall include, in
233		-	addition to the amount certified by the System, an amount
234		-	necessary to meet employer contributions required by the State
235		-	as an employer under paragraph (e) of this Section, which may
236		-	also be used by the System for contributions required by
237		-	paragraph (a) of Section 16-127.
238		-	Beginning in State fiscal year 2046, the minimum State
239		-	contribution for each fiscal year shall be the amount needed
240		-	to maintain the total assets of the System at 90% of the total
241		-	actuarial liabilities of the System.
242		-	Amounts received by the System pursuant to Section 25 of
243		-	the Budget Stabilization Act or Section 8.12 of the State
244		-	Finance Act in any fiscal year do not reduce and do not
245		-	constitute payment of any portion of the minimum State
246		-	contribution required under this Article in that fiscal year.
247		-	Such amounts shall not reduce, and shall not be included in the
248		-	calculation of, the required State contributions under this
249		-	Article in any future year until the System has reached a
250		-	funding ratio of at least 90%. A reference in this Article to
251		-	the "required State contribution" or any substantially similar
252		-	term does not include or apply to any amounts payable to the
253		-	System under Section 25 of the Budget Stabilization Act.
254		-	Notwithstanding any other provision of this Section, the
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256	135
257		-	required State contribution for State fiscal year 2005 and for
258		-	fiscal year 2008 and each fiscal year thereafter, as
259		-	calculated under this Section and certified under subsection
260		-	(a-1), shall not exceed an amount equal to (i) the amount of
261		-	the required State contribution that would have been
262		-	calculated under this Section for that fiscal year if the
263		-	System had not received any payments under subsection (d) of
264		-	Section 7.2 of the General Obligation Bond Act, minus (ii) the
265		-	portion of the State's total debt service payments for that
266		-	fiscal year on the bonds issued in fiscal year 2003 for the
267		-	purposes of that Section 7.2, as determined and certified by
268		-	the Comptroller, that is the same as the System's portion of
269		-	the total moneys distributed under subsection (d) of Section
270		-	7.2 of the General Obligation Bond Act. In determining this
271		-	maximum for State fiscal years 2008 through 2010, however, the
272		-	amount referred to in item (i) shall be increased, as a
273		-	percentage of the applicable employee payroll, in equal
274		-	increments calculated from the sum of the required State
275		-	contribution for State fiscal year 2007 plus the applicable
276		-	portion of the State's total debt service payments for fiscal
277		-	year 2007 on the bonds issued in fiscal year 2003 for the
278		-	purposes of Section 7.2 of the General Obligation Bond Act, so
279		-	that, by State fiscal year 2011, the State is contributing at
280		-	the rate otherwise required under this Section.
281		-	(b-4) Beginning in fiscal year 2018, each employer under
282		-	this Article shall pay to the System a required contribution
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285		-	determined as a percentage of projected payroll and sufficient
286		-	to produce an annual amount equal to:
287		-	(i) for each of fiscal years 2018, 2019, and 2020, the
288		-	defined benefit normal cost of the defined benefit plan,
289		-	less the employee contribution, for each employee of that
290		-	employer who has elected or who is deemed to have elected
291		-	the benefits under Section 1-161 or who has made the
292		-	election under subsection (b) of Section 1-161; for fiscal
293		-	year 2021 and each fiscal year thereafter, the defined
294		-	benefit normal cost of the defined benefit plan, less the
295		-	employee contribution, plus 2%, for each employee of that
296		-	employer who has elected or who is deemed to have elected
297		-	the benefits under Section 1-161 or who has made the
298		-	election under subsection (b) of Section 1-161; plus
299		-	(ii) the amount required for that fiscal year to
300		-	amortize any unfunded actuarial accrued liability
301		-	associated with the present value of liabilities
302		-	attributable to the employer's account under Section
303		-	16-158.3, determined as a level percentage of payroll over
304		-	a 30-year rolling amortization period.
305		-	In determining contributions required under item (i) of
306		-	this subsection, the System shall determine an aggregate rate
307		-	for all employers, expressed as a percentage of projected
308		-	payroll.
309		-	In determining the contributions required under item (ii)
310		-	of this subsection, the amount shall be computed by the System
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	142	+	1 of each month, or as soon thereafter as may be practicable, the
	143	+	2 Board shall submit vouchers for payment of State contributions
	144	+	3 to the System, in a total monthly amount of one-twelfth of the
	145	+	4 required annual State contribution certified under subsection
	146	+	5 (a-1). From March 5, 2004 (the effective date of Public Act
	147	+	6 93-665) through June 30, 2004, the Board shall not submit
	148	+	7 vouchers for the remainder of fiscal year 2004 in excess of the
	149	+	8 fiscal year 2004 certified contribution amount determined
	150	+	9 under this Section after taking into consideration the
	151	+	10 transfer to the System under subsection (a) of Section 6z-61
	152	+	11 of the State Finance Act. These vouchers shall be paid by the
	153	+	12 State Comptroller and Treasurer by warrants drawn on the funds
	154	+	13 appropriated to the System for that fiscal year.
	155	+	14 If in any month the amount remaining unexpended from all
	156	+	15 other appropriations to the System for the applicable fiscal
	157	+	16 year (including the appropriations to the System under Section
	158	+	17 8.12 of the State Finance Act and Section 1 of the State
	159	+	18 Pension Funds Continuing Appropriation Act) is less than the
	160	+	19 amount lawfully vouchered under this subsection, the
	161	+	20 difference shall be paid from the Common School Fund under the
	162	+	21 continuing appropriation authority provided in Section 1.1 of
	163	+	22 the State Pension Funds Continuing Appropriation Act.
	164	+	23 (b-2) Allocations from the Common School Fund apportioned
	165	+	24 to school districts not coming under this System shall not be
	166	+	25 diminished or affected by the provisions of this Article.
	167	+	26 (b-3) For State fiscal years 2012 through 2045, the
311	168
312	169
313		-	on the basis of the actuarial assumptions and tables used in
314		-	the most recent actuarial valuation of the System that is
315		-	available at the time of the computation.
316		-	The contributions required under this subsection (b-4)
317		-	shall be paid by an employer concurrently with that employer's
318		-	payroll payment period. The State, as the actual employer of
319		-	an employee, shall make the required contributions under this
320		-	subsection.
321		-	(c) Payment of the required State contributions and of all
322		-	pensions, retirement annuities, death benefits, refunds, and
323		-	other benefits granted under or assumed by this System, and
324		-	all expenses in connection with the administration and
325		-	operation thereof, are obligations of the State.
326		-	If members are paid from special trust or federal funds
327		-	which are administered by the employing unit, whether school
328		-	district or other unit, the employing unit shall pay to the
329		-	System from such funds the full accruing retirement costs
330		-	based upon that service, which, beginning July 1, 2017, shall
331		-	be at a rate, expressed as a percentage of salary, equal to the
332		-	total employer's normal cost, expressed as a percentage of
333		-	payroll, as determined by the System. Employer contributions,
334		-	based on salary paid to members from federal funds, may be
335		-	forwarded by the distributing agency of the State of Illinois
336		-	to the System prior to allocation, in an amount determined in
337		-	accordance with guidelines established by such agency and the
338		-	System. Any contribution for fiscal year 2015 collected as a
339	170
340	171
341		-	result of the change made by Public Act 98-674 shall be
342		-	considered a State contribution under subsection (b-3) of this
343		-	Section.
344		-	(d) Effective July 1, 1986, any employer of a teacher as
345		-	defined in paragraph (8) of Section 16-106 shall pay the
346		-	employer's normal cost of benefits based upon the teacher's
347		-	service, in addition to employee contributions, as determined
348		-	by the System. Such employer contributions shall be forwarded
349		-	monthly in accordance with guidelines established by the
350		-	System.
351		-	However, with respect to benefits granted under Section
352		-	16-133.4 or 16-133.5 to a teacher as defined in paragraph (8)
353		-	of Section 16-106, the employer's contribution shall be 12%
354		-	(rather than 20%) of the member's highest annual salary rate
355		-	for each year of creditable service granted, and the employer
356		-	shall also pay the required employee contribution on behalf of
357		-	the teacher. For the purposes of Sections 16-133.4 and
358		-	16-133.5, a teacher as defined in paragraph (8) of Section
359		-	16-106 who is serving in that capacity while on leave of
360		-	absence from another employer under this Article shall not be
361		-	considered an employee of the employer from which the teacher
362		-	is on leave.
363		-	(e) Beginning July 1, 1998, every employer of a teacher
364		-	shall pay to the System an employer contribution computed as
365		-	follows:
366		-	(1) Beginning July 1, 1998 through June 30, 1999, the
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368	175
369		-	employer contribution shall be equal to 0.3% of each
370		-	teacher's salary.
371		-	(2) Beginning July 1, 1999 and thereafter, the
372		-	employer contribution shall be equal to 0.58% of each
373		-	teacher's salary.
374		-	The school district or other employing unit may pay these
375		-	employer contributions out of any source of funding available
376		-	for that purpose and shall forward the contributions to the
377		-	System on the schedule established for the payment of member
378		-	contributions.
379		-	These employer contributions are intended to offset a
380		-	portion of the cost to the System of the increases in
381		-	retirement benefits resulting from Public Act 90-582.
382		-	Each employer of teachers is entitled to a credit against
383		-	the contributions required under this subsection (e) with
384		-	respect to salaries paid to teachers for the period January 1,
385		-	2002 through June 30, 2003, equal to the amount paid by that
386		-	employer under subsection (a-5) of Section 6.6 of the State
387		-	Employees Group Insurance Act of 1971 with respect to salaries
388		-	paid to teachers for that period.
389		-	The additional 1% employee contribution required under
390		-	Section 16-152 by Public Act 90-582 is the responsibility of
391		-	the teacher and not the teacher's employer, unless the
392		-	employer agrees, through collective bargaining or otherwise,
393		-	to make the contribution on behalf of the teacher.
394		-	If an employer is required by a contract in effect on May
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	178	+	1 minimum contribution to the System to be made by the State for
	179	+	2 each fiscal year shall be an amount determined by the System to
	180	+	3 be sufficient to bring the total assets of the System up to 90%
	181	+	4 of the total actuarial liabilities of the System by the end of
	182	+	5 State fiscal year 2045. In making these determinations, the
	183	+	6 required State contribution shall be calculated each year as a
	184	+	7 level percentage of payroll over the years remaining to and
	185	+	8 including fiscal year 2045 and shall be determined under the
	186	+	9 projected unit credit actuarial cost method.
	187	+	10 For each of State fiscal years 2018, 2019, and 2020, the
	188	+	11 State shall make an additional contribution to the System
	189	+	12 equal to 2% of the total payroll of each employee who is deemed
	190	+	13 to have elected the benefits under Section 1-161 or who has
	191	+	14 made the election under subsection (c) of Section 1-161.
	192	+	15 A change in an actuarial or investment assumption that
	193	+	16 increases or decreases the required State contribution and
	194	+	17 first applies in State fiscal year 2018 or thereafter shall be
	195	+	18 implemented in equal annual amounts over a 5-year period
	196	+	19 beginning in the State fiscal year in which the actuarial
	197	+	20 change first applies to the required State contribution.
	198	+	21 A change in an actuarial or investment assumption that
	199	+	22 increases or decreases the required State contribution and
	200	+	23 first applied to the State contribution in fiscal year 2014,
	201	+	24 2015, 2016, or 2017 shall be implemented:
	202	+	25 (i) as already applied in State fiscal years before
	203	+	26 2018; and
395	204
396	205
397		-	1, 1998 between the employer and an employee organization to
398		-	pay, on behalf of all its full-time employees covered by this
399		-	Article, all mandatory employee contributions required under
400		-	this Article, then the employer shall be excused from paying
401		-	the employer contribution required under this subsection (e)
402		-	for the balance of the term of that contract. The employer and
403		-	the employee organization shall jointly certify to the System
404		-	the existence of the contractual requirement, in such form as
405		-	the System may prescribe. This exclusion shall cease upon the
406		-	termination, extension, or renewal of the contract at any time
407		-	after May 1, 1998.
408		-	(f) If the amount of a teacher's salary for any school year
409		-	used to determine final average salary exceeds the member's
410		-	annual full-time salary rate with the same employer for the
411		-	previous school year by more than 6%, the teacher's employer
412		-	shall pay to the System, in addition to all other payments
413		-	required under this Section and in accordance with guidelines
414		-	established by the System, the present value of the increase
415		-	in benefits resulting from the portion of the increase in
416		-	salary that is in excess of 6%. This present value shall be
417		-	computed by the System on the basis of the actuarial
418		-	assumptions and tables used in the most recent actuarial
419		-	valuation of the System that is available at the time of the
420		-	computation. If a teacher's salary for the 2005-2006 school
421		-	year is used to determine final average salary under this
422		-	subsection (f), then the changes made to this subsection (f)
423	206
424	207
425		-	by Public Act 94-1057 shall apply in calculating whether the
426		-	increase in his or her salary is in excess of 6%. For the
427		-	purposes of this Section, change in employment under Section
428		-	10-21.12 of the School Code on or after June 1, 2005 shall
429		-	constitute a change in employer. The System may require the
430		-	employer to provide any pertinent information or
431		-	documentation. The changes made to this subsection (f) by
432		-	Public Act 94-1111 apply without regard to whether the teacher
433		-	was in service on or after its effective date.
434		-	Whenever it determines that a payment is or may be
435		-	required under this subsection, the System shall calculate the
436		-	amount of the payment and bill the employer for that amount.
437		-	The bill shall specify the calculations used to determine the
438		-	amount due. If the employer disputes the amount of the bill, it
439		-	may, within 30 days after receipt of the bill, apply to the
440		-	System in writing for a recalculation. The application must
441		-	specify in detail the grounds of the dispute and, if the
442		-	employer asserts that the calculation is subject to subsection
443		-	(g), (g-5), (g-10), (g-15), (g-20), or (h) of this Section,
444		-	must include an affidavit setting forth and attesting to all
445		-	facts within the employer's knowledge that are pertinent to
446		-	the applicability of that subsection. Upon receiving a timely
447		-	application for recalculation, the System shall review the
448		-	application and, if appropriate, recalculate the amount due.
449		-	The employer contributions required under this subsection
450		-	(f) may be paid in the form of a lump sum within 90 days after
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451	210
452	211
453		-	receipt of the bill. If the employer contributions are not
454		-	paid within 90 days after receipt of the bill, then interest
455		-	will be charged at a rate equal to the System's annual
456		-	actuarially assumed rate of return on investment compounded
457		-	annually from the 91st day after receipt of the bill. Payments
458		-	must be concluded within 3 years after the employer's receipt
459		-	of the bill.
460		-	(f-1) (Blank).
461		-	(g) This subsection (g) applies only to payments made or
462		-	salary increases given on or after June 1, 2005 but before July
463		-	1, 2011. The changes made by Public Act 94-1057 shall not
464		-	require the System to refund any payments received before July
465		-	31, 2006 (the effective date of Public Act 94-1057).
466		-	When assessing payment for any amount due under subsection
467		-	(f), the System shall exclude salary increases paid to
468		-	teachers under contracts or collective bargaining agreements
469		-	entered into, amended, or renewed before June 1, 2005.
470		-	When assessing payment for any amount due under subsection
471		-	(f), the System shall exclude salary increases paid to a
472		-	teacher at a time when the teacher is 10 or more years from
473		-	retirement eligibility under Section 16-132 or 16-133.2.
474		-	When assessing payment for any amount due under subsection
475		-	(f), the System shall exclude salary increases resulting from
476		-	overload work, including summer school, when the school
477		-	district has certified to the System, and the System has
478		-	approved the certification, that (i) the overload work is for
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	214	+	1 (ii) in the portion of the 5-year period beginning in
	215	+	2 the State fiscal year in which the actuarial change first
	216	+	3 applied that occurs in State fiscal year 2018 or
	217	+	4 thereafter, by calculating the change in equal annual
	218	+	5 amounts over that 5-year period and then implementing it
	219	+	6 at the resulting annual rate in each of the remaining
	220	+	7 fiscal years in that 5-year period.
	221	+	8 For State fiscal years 1996 through 2005, the State
	222	+	9 contribution to the System, as a percentage of the applicable
	223	+	10 employee payroll, shall be increased in equal annual
	224	+	11 increments so that by State fiscal year 2011, the State is
	225	+	12 contributing at the rate required under this Section; except
	226	+	13 that in the following specified State fiscal years, the State
	227	+	14 contribution to the System shall not be less than the
	228	+	15 following indicated percentages of the applicable employee
	229	+	16 payroll, even if the indicated percentage will produce a State
	230	+	17 contribution in excess of the amount otherwise required under
	231	+	18 this subsection and subsection (a), and notwithstanding any
	232	+	19 contrary certification made under subsection (a-1) before May
	233	+	20 27, 1998 (the effective date of Public Act 90-582): 10.02% in
	234	+	21 FY 1999; 10.77% in FY 2000; 11.47% in FY 2001; 12.16% in FY
	235	+	22 2002; 12.86% in FY 2003; and 13.56% in FY 2004.
	236	+	23 Notwithstanding any other provision of this Article, the
	237	+	24 total required State contribution for State fiscal year 2006
	238	+	25 is $534,627,700.
	239	+	26 Notwithstanding any other provision of this Article, the
479	240
480	241
481		-	the sole purpose of classroom instruction in excess of the
482		-	standard number of classes for a full-time teacher in a school
483		-	district during a school year and (ii) the salary increases
484		-	are equal to or less than the rate of pay for classroom
485		-	instruction computed on the teacher's current salary and work
486		-	schedule.
487		-	When assessing payment for any amount due under subsection
488		-	(f), the System shall exclude a salary increase resulting from
489		-	a promotion (i) for which the employee is required to hold a
490		-	certificate or supervisory endorsement issued by the State
491		-	Teacher Certification Board that is a different certification
492		-	or supervisory endorsement than is required for the teacher's
493		-	previous position and (ii) to a position that has existed and
494		-	been filled by a member for no less than one complete academic
495		-	year and the salary increase from the promotion is an increase
496		-	that results in an amount no greater than the lesser of the
497		-	average salary paid for other similar positions in the
498		-	district requiring the same certification or the amount
499		-	stipulated in the collective bargaining agreement for a
500		-	similar position requiring the same certification.
501		-	When assessing payment for any amount due under subsection
502		-	(f), the System shall exclude any payment to the teacher from
503		-	the State of Illinois or the State Board of Education over
504		-	which the employer does not have discretion, notwithstanding
505		-	that the payment is included in the computation of final
506		-	average salary.
507	242
508	243
509		-	(g-5) When assessing payment for any amount due under
510		-	subsection (f), the System shall exclude salary increases
511		-	resulting from overload or stipend work performed in a school
512		-	year subsequent to a school year in which the employer was
513		-	unable to offer or allow to be conducted overload or stipend
514		-	work due to an emergency declaration limiting such activities.
515		-	(g-10) When assessing payment for any amount due under
516		-	subsection (f), the System shall exclude salary increases
517		-	resulting from increased instructional time that exceeded the
518		-	instructional time required during the 2019-2020 school year.
519		-	(g-15) When assessing payment for any amount due under
520		-	subsection (f), the System shall exclude salary increases
521		-	resulting from teaching summer school on or after May 1, 2021
522		-	and before September 15, 2022.
523		-	(g-20) When assessing payment for any amount due under
524		-	subsection (f), the System shall exclude salary increases
525		-	necessary to bring a school board in compliance with Public
526		-	Act 101-443 or this amendatory Act of the 103rd General
527		-	Assembly.
528		-	(h) When assessing payment for any amount due under
529		-	subsection (f), the System shall exclude any salary increase
530		-	described in subsection (g) of this Section given on or after
531		-	July 1, 2011 but before July 1, 2014 under a contract or
532		-	collective bargaining agreement entered into, amended, or
533		-	renewed on or after June 1, 2005 but before July 1, 2011.
534		-	Notwithstanding any other provision of this Section, any
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535	246
536	247
537		-	payments made or salary increases given after June 30, 2014
538		-	shall be used in assessing payment for any amount due under
539		-	subsection (f) of this Section.
540		-	(i) The System shall prepare a report and file copies of
541		-	the report with the Governor and the General Assembly by
542		-	January 1, 2007 that contains all of the following
543		-	information:
544		-	(1) The number of recalculations required by the
545		-	changes made to this Section by Public Act 94-1057 for
546		-	each employer.
547		-	(2) The dollar amount by which each employer's
548		-	contribution to the System was changed due to
549		-	recalculations required by Public Act 94-1057.
550		-	(3) The total amount the System received from each
551		-	employer as a result of the changes made to this Section by
552		-	Public Act 94-4.
553		-	(4) The increase in the required State contribution
554		-	resulting from the changes made to this Section by Public
555		-	Act 94-1057.
556		-	(i-5) For school years beginning on or after July 1, 2017,
557		-	if the amount of a participant's salary for any school year
558		-	exceeds the amount of the salary set for the Governor, the
559		-	participant's employer shall pay to the System, in addition to
560		-	all other payments required under this Section and in
561		-	accordance with guidelines established by the System, an
562		-	amount determined by the System to be equal to the employer
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	250	+	1 total required State contribution for State fiscal year 2007
	251	+	2 is $738,014,500.
	252	+	3 For each of State fiscal years 2008 through 2009, the
	253	+	4 State contribution to the System, as a percentage of the
	254	+	5 applicable employee payroll, shall be increased in equal
	255	+	6 annual increments from the required State contribution for
	256	+	7 State fiscal year 2007, so that by State fiscal year 2011, the
	257	+	8 State is contributing at the rate otherwise required under
	258	+	9 this Section.
	259	+	10 Notwithstanding any other provision of this Article, the
	260	+	11 total required State contribution for State fiscal year 2010
	261	+	12 is $2,089,268,000 and shall be made from the proceeds of bonds
	262	+	13 sold in fiscal year 2010 pursuant to Section 7.2 of the General
	263	+	14 Obligation Bond Act, less (i) the pro rata share of bond sale
	264	+	15 expenses determined by the System's share of total bond
	265	+	16 proceeds, (ii) any amounts received from the Common School
	266	+	17 Fund in fiscal year 2010, and (iii) any reduction in bond
	267	+	18 proceeds due to the issuance of discounted bonds, if
	268	+	19 applicable.
	269	+	20 Notwithstanding any other provision of this Article, the
	270	+	21 total required State contribution for State fiscal year 2011
	271	+	22 is the amount recertified by the System on or before April 1,
	272	+	23 2011 pursuant to subsection (a-1) of this Section and shall be
	273	+	24 made from the proceeds of bonds sold in fiscal year 2011
	274	+	25 pursuant to Section 7.2 of the General Obligation Bond Act,
	275	+	26 less (i) the pro rata share of bond sale expenses determined by
563	276
564	277
565		-	normal cost, as established by the System and expressed as a
566		-	total percentage of payroll, multiplied by the amount of
567		-	salary in excess of the amount of the salary set for the
568		-	Governor. This amount shall be computed by the System on the
569		-	basis of the actuarial assumptions and tables used in the most
570		-	recent actuarial valuation of the System that is available at
571		-	the time of the computation. The System may require the
572		-	employer to provide any pertinent information or
573		-	documentation.
574		-	Whenever it determines that a payment is or may be
575		-	required under this subsection, the System shall calculate the
576		-	amount of the payment and bill the employer for that amount.
577		-	The bill shall specify the calculations used to determine the
578		-	amount due. If the employer disputes the amount of the bill, it
579		-	may, within 30 days after receipt of the bill, apply to the
580		-	System in writing for a recalculation. The application must
581		-	specify in detail the grounds of the dispute. Upon receiving a
582		-	timely application for recalculation, the System shall review
583		-	the application and, if appropriate, recalculate the amount
584		-	due.
585		-	The employer contributions required under this subsection
586		-	may be paid in the form of a lump sum within 90 days after
587		-	receipt of the bill. If the employer contributions are not
588		-	paid within 90 days after receipt of the bill, then interest
589		-	will be charged at a rate equal to the System's annual
590		-	actuarially assumed rate of return on investment compounded
591	278
592	279
593		-	annually from the 91st day after receipt of the bill. Payments
594		-	must be concluded within 3 years after the employer's receipt
595		-	of the bill.
596		-	(j) For purposes of determining the required State
597		-	contribution to the System, the value of the System's assets
598		-	shall be equal to the actuarial value of the System's assets,
599		-	which shall be calculated as follows:
600		-	As of June 30, 2008, the actuarial value of the System's
601		-	assets shall be equal to the market value of the assets as of
602		-	that date. In determining the actuarial value of the System's
603		-	assets for fiscal years after June 30, 2008, any actuarial
604		-	gains or losses from investment return incurred in a fiscal
605		-	year shall be recognized in equal annual amounts over the
606		-	5-year period following that fiscal year.
607		-	(k) For purposes of determining the required State
608		-	contribution to the system for a particular year, the
609		-	actuarial value of assets shall be assumed to earn a rate of
610		-	return equal to the system's actuarially assumed rate of
611		-	return.
612		-	(Source: P.A. 101-10, eff. 6-5-19; 101-81, eff. 7-12-19;
613		-	102-16, eff. 6-17-21; 102-525, eff. 8-20-21; 102-558, eff.
614		-	8-20-21; 102-813, eff. 5-13-22.)
615		-	Section 10. The School Code is amended by changing Section
616		-	24-8 as follows:
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618	283
619		-	(105 ILCS 5/24-8) (from Ch. 122, par. 24-8)
620		-	Sec. 24-8. Minimum salary. In fixing the salaries of
621		-	teachers, school boards shall pay those who serve on a
622		-	full-time basis not less than a rate for the school year that
623		-	is based upon training completed in a recognized institution
624		-	of higher learning, as follows: for the school year beginning
625		-	July 1, 1980 and until the 2020-2021 school year, less than a
626		-	bachelor's degree, $9,000; 120 semester hours or more and a
627		-	bachelor's degree, $10,000; 150 semester hours or more and a
628		-	master's degree, $11,000. In fixing the salaries of teachers,
629		-	a school board shall pay those who serve on a full-time basis a
630		-	rate not less than (i) $32,076 for the 2020-2021 school year,
631		-	(ii) $34,576 for the 2021-2022 school year, (iii) $37,076 for
632		-	the 2022-2023 school year, and (iv) $40,000 for the 2023-2024
633		-	school year. The minimum salary rate for each school year
634		-	thereafter, subject to review by the General Assembly, shall
635		-	equal the minimum salary rate for the previous school year
636		-	increased by a percentage equal to the annualized percentage
637		-	increase, if any, in the Consumer Price Index for All Urban
638		-	Consumers for all items published by the United States
639		-	Department of Labor for the 12-month period ending on June 30
640		-	of the school year that ended 12 months prior to the school
641		-	year in which the adjusted salary is to be in effect the
642		-	previous school year.
643		-	In accordance with this Section, the Commission on
644		-	Government Forecasting and Accountability shall certify and
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	286	+	1 the System's share of total bond proceeds, (ii) any amounts
	287	+	2 received from the Common School Fund in fiscal year 2011, and
	288	+	3 (iii) any reduction in bond proceeds due to the issuance of
	289	+	4 discounted bonds, if applicable. This amount shall include, in
	290	+	5 addition to the amount certified by the System, an amount
	291	+	6 necessary to meet employer contributions required by the State
	292	+	7 as an employer under paragraph (e) of this Section, which may
	293	+	8 also be used by the System for contributions required by
	294	+	9 paragraph (a) of Section 16-127.
	295	+	10 Beginning in State fiscal year 2046, the minimum State
	296	+	11 contribution for each fiscal year shall be the amount needed
	297	+	12 to maintain the total assets of the System at 90% of the total
	298	+	13 actuarial liabilities of the System.
	299	+	14 Amounts received by the System pursuant to Section 25 of
	300	+	15 the Budget Stabilization Act or Section 8.12 of the State
	301	+	16 Finance Act in any fiscal year do not reduce and do not
	302	+	17 constitute payment of any portion of the minimum State
	303	+	18 contribution required under this Article in that fiscal year.
	304	+	19 Such amounts shall not reduce, and shall not be included in the
	305	+	20 calculation of, the required State contributions under this
	306	+	21 Article in any future year until the System has reached a
	307	+	22 funding ratio of at least 90%. A reference in this Article to
	308	+	23 the "required State contribution" or any substantially similar
	309	+	24 term does not include or apply to any amounts payable to the
	310	+	25 System under Section 25 of the Budget Stabilization Act.
	311	+	26 Notwithstanding any other provision of this Section, the
645	312
646	313
647		-	publish the minimum salary rate to be used for the 2024-2025
648		-	school year no later than September 30, 2023. By no later than
649		-	July 20, 2024 and annually on or before each July 20
650		-	thereafter, the Commission on Government Forecasting and
651		-	Accountability shall certify and publish the minimum salary
652		-	rate to be used for each school year after the 2024-2025 school
653		-	year in accordance with this Section.
654		-	On or before January 31, 2020, the Professional Review
655		-	Panel created under Section 18-8.15 must submit a report to
656		-	the General Assembly on how State funds and funds distributed
657		-	under the evidence-based funding formula under Section 18-8.15
658		-	may aid the financial effects of the changes made by this
659		-	amendatory Act of the 101st General Assembly.
660		-	Based upon previous public school experience in this State
661		-	or any other state, territory, dependency or possession of the
662		-	United States, or in schools operated by or under the auspices
663		-	of the United States, teachers who serve on a full-time basis
664		-	shall have their salaries increased to at least the following
665		-	amounts above the starting salary for a teacher in such
666		-	district in the same classification: with less than a
667		-	bachelor's degree, $750 after 5 years; with 120 semester hours
668		-	or more and a bachelor's degree, $1,000 after 5 years and
669		-	$1,600 after 8 years; with 150 semester hours or more and a
670		-	master's degree, $1,250 after 5 years, $2,000 after 8 years
671		-	and $2,750 after 13 years.
672		-	For the purpose of this Section a teacher's salary shall
673	314
674	315
675		-	include any amount paid by the school district on behalf of the
676		-	teacher, as teacher contributions, to the Teachers' Retirement
677		-	System of the State of Illinois.
678		-	If a school board establishes a schedule for teachers'
679		-	salaries based on education and experience, not inconsistent
680		-	with this Section, all certificated nurses employed by that
681		-	board shall be paid in accordance with the provisions of such
682		-	schedule.
683		-	For purposes of this Section, a teacher who submits a
684		-	certificate of completion to the school office prior to the
685		-	first day of the school term shall be considered to have the
686		-	degree stated in such certificate.
687		-	(Source: P.A. 101-443, eff. 6-1-20.)
	316	+
	317	+	HB0300 Enrolled - 9 - LRB103 03827 RJT 48833 b
	318	+
	319	+
	320	+	HB0300 Enrolled- 10 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 10 - LRB103 03827 RJT 48833 b
	321	+	HB0300 Enrolled - 10 - LRB103 03827 RJT 48833 b
	322	+	1 required State contribution for State fiscal year 2005 and for
	323	+	2 fiscal year 2008 and each fiscal year thereafter, as
	324	+	3 calculated under this Section and certified under subsection
	325	+	4 (a-1), shall not exceed an amount equal to (i) the amount of
	326	+	5 the required State contribution that would have been
	327	+	6 calculated under this Section for that fiscal year if the
	328	+	7 System had not received any payments under subsection (d) of
	329	+	8 Section 7.2 of the General Obligation Bond Act, minus (ii) the
	330	+	9 portion of the State's total debt service payments for that
	331	+	10 fiscal year on the bonds issued in fiscal year 2003 for the
	332	+	11 purposes of that Section 7.2, as determined and certified by
	333	+	12 the Comptroller, that is the same as the System's portion of
	334	+	13 the total moneys distributed under subsection (d) of Section
	335	+	14 7.2 of the General Obligation Bond Act. In determining this
	336	+	15 maximum for State fiscal years 2008 through 2010, however, the
	337	+	16 amount referred to in item (i) shall be increased, as a
	338	+	17 percentage of the applicable employee payroll, in equal
	339	+	18 increments calculated from the sum of the required State
	340	+	19 contribution for State fiscal year 2007 plus the applicable
	341	+	20 portion of the State's total debt service payments for fiscal
	342	+	21 year 2007 on the bonds issued in fiscal year 2003 for the
	343	+	22 purposes of Section 7.2 of the General Obligation Bond Act, so
	344	+	23 that, by State fiscal year 2011, the State is contributing at
	345	+	24 the rate otherwise required under this Section.
	346	+	25 (b-4) Beginning in fiscal year 2018, each employer under
	347	+	26 this Article shall pay to the System a required contribution
	348	+
	349	+
	350	+
	351	+
	352	+
	353	+	HB0300 Enrolled - 10 - LRB103 03827 RJT 48833 b
	354	+
	355	+
	356	+	HB0300 Enrolled- 11 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 11 - LRB103 03827 RJT 48833 b
	357	+	HB0300 Enrolled - 11 - LRB103 03827 RJT 48833 b
	358	+	1 determined as a percentage of projected payroll and sufficient
	359	+	2 to produce an annual amount equal to:
	360	+	3 (i) for each of fiscal years 2018, 2019, and 2020, the
	361	+	4 defined benefit normal cost of the defined benefit plan,
	362	+	5 less the employee contribution, for each employee of that
	363	+	6 employer who has elected or who is deemed to have elected
	364	+	7 the benefits under Section 1-161 or who has made the
	365	+	8 election under subsection (b) of Section 1-161; for fiscal
	366	+	9 year 2021 and each fiscal year thereafter, the defined
	367	+	10 benefit normal cost of the defined benefit plan, less the
	368	+	11 employee contribution, plus 2%, for each employee of that
	369	+	12 employer who has elected or who is deemed to have elected
	370	+	13 the benefits under Section 1-161 or who has made the
	371	+	14 election under subsection (b) of Section 1-161; plus
	372	+	15 (ii) the amount required for that fiscal year to
	373	+	16 amortize any unfunded actuarial accrued liability
	374	+	17 associated with the present value of liabilities
	375	+	18 attributable to the employer's account under Section
	376	+	19 16-158.3, determined as a level percentage of payroll over
	377	+	20 a 30-year rolling amortization period.
	378	+	21 In determining contributions required under item (i) of
	379	+	22 this subsection, the System shall determine an aggregate rate
	380	+	23 for all employers, expressed as a percentage of projected
	381	+	24 payroll.
	382	+	25 In determining the contributions required under item (ii)
	383	+	26 of this subsection, the amount shall be computed by the System
	384	+
	385	+
	386	+
	387	+
	388	+
	389	+	HB0300 Enrolled - 11 - LRB103 03827 RJT 48833 b
	390	+
	391	+
	392	+	HB0300 Enrolled- 12 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 12 - LRB103 03827 RJT 48833 b
	393	+	HB0300 Enrolled - 12 - LRB103 03827 RJT 48833 b
	394	+	1 on the basis of the actuarial assumptions and tables used in
	395	+	2 the most recent actuarial valuation of the System that is
	396	+	3 available at the time of the computation.
	397	+	4 The contributions required under this subsection (b-4)
	398	+	5 shall be paid by an employer concurrently with that employer's
	399	+	6 payroll payment period. The State, as the actual employer of
	400	+	7 an employee, shall make the required contributions under this
	401	+	8 subsection.
	402	+	9 (c) Payment of the required State contributions and of all
	403	+	10 pensions, retirement annuities, death benefits, refunds, and
	404	+	11 other benefits granted under or assumed by this System, and
	405	+	12 all expenses in connection with the administration and
	406	+	13 operation thereof, are obligations of the State.
	407	+	14 If members are paid from special trust or federal funds
	408	+	15 which are administered by the employing unit, whether school
	409	+	16 district or other unit, the employing unit shall pay to the
	410	+	17 System from such funds the full accruing retirement costs
	411	+	18 based upon that service, which, beginning July 1, 2017, shall
	412	+	19 be at a rate, expressed as a percentage of salary, equal to the
	413	+	20 total employer's normal cost, expressed as a percentage of
	414	+	21 payroll, as determined by the System. Employer contributions,
	415	+	22 based on salary paid to members from federal funds, may be
	416	+	23 forwarded by the distributing agency of the State of Illinois
	417	+	24 to the System prior to allocation, in an amount determined in
	418	+	25 accordance with guidelines established by such agency and the
	419	+	26 System. Any contribution for fiscal year 2015 collected as a
	420	+
	421	+
	422	+
	423	+
	424	+
	425	+	HB0300 Enrolled - 12 - LRB103 03827 RJT 48833 b
	426	+
	427	+
	428	+	HB0300 Enrolled- 13 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 13 - LRB103 03827 RJT 48833 b
	429	+	HB0300 Enrolled - 13 - LRB103 03827 RJT 48833 b
	430	+	1 result of the change made by Public Act 98-674 shall be
	431	+	2 considered a State contribution under subsection (b-3) of this
	432	+	3 Section.
	433	+	4 (d) Effective July 1, 1986, any employer of a teacher as
	434	+	5 defined in paragraph (8) of Section 16-106 shall pay the
	435	+	6 employer's normal cost of benefits based upon the teacher's
	436	+	7 service, in addition to employee contributions, as determined
	437	+	8 by the System. Such employer contributions shall be forwarded
	438	+	9 monthly in accordance with guidelines established by the
	439	+	10 System.
	440	+	11 However, with respect to benefits granted under Section
	441	+	12 16-133.4 or 16-133.5 to a teacher as defined in paragraph (8)
	442	+	13 of Section 16-106, the employer's contribution shall be 12%
	443	+	14 (rather than 20%) of the member's highest annual salary rate
	444	+	15 for each year of creditable service granted, and the employer
	445	+	16 shall also pay the required employee contribution on behalf of
	446	+	17 the teacher. For the purposes of Sections 16-133.4 and
	447	+	18 16-133.5, a teacher as defined in paragraph (8) of Section
	448	+	19 16-106 who is serving in that capacity while on leave of
	449	+	20 absence from another employer under this Article shall not be
	450	+	21 considered an employee of the employer from which the teacher
	451	+	22 is on leave.
	452	+	23 (e) Beginning July 1, 1998, every employer of a teacher
	453	+	24 shall pay to the System an employer contribution computed as
	454	+	25 follows:
	455	+	26 (1) Beginning July 1, 1998 through June 30, 1999, the
	456	+
	457	+
	458	+
	459	+
	460	+
	461	+	HB0300 Enrolled - 13 - LRB103 03827 RJT 48833 b
	462	+
	463	+
	464	+	HB0300 Enrolled- 14 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 14 - LRB103 03827 RJT 48833 b
	465	+	HB0300 Enrolled - 14 - LRB103 03827 RJT 48833 b
	466	+	1 employer contribution shall be equal to 0.3% of each
	467	+	2 teacher's salary.
	468	+	3 (2) Beginning July 1, 1999 and thereafter, the
	469	+	4 employer contribution shall be equal to 0.58% of each
	470	+	5 teacher's salary.
	471	+	6 The school district or other employing unit may pay these
	472	+	7 employer contributions out of any source of funding available
	473	+	8 for that purpose and shall forward the contributions to the
	474	+	9 System on the schedule established for the payment of member
	475	+	10 contributions.
	476	+	11 These employer contributions are intended to offset a
	477	+	12 portion of the cost to the System of the increases in
	478	+	13 retirement benefits resulting from Public Act 90-582.
	479	+	14 Each employer of teachers is entitled to a credit against
	480	+	15 the contributions required under this subsection (e) with
	481	+	16 respect to salaries paid to teachers for the period January 1,
	482	+	17 2002 through June 30, 2003, equal to the amount paid by that
	483	+	18 employer under subsection (a-5) of Section 6.6 of the State
	484	+	19 Employees Group Insurance Act of 1971 with respect to salaries
	485	+	20 paid to teachers for that period.
	486	+	21 The additional 1% employee contribution required under
	487	+	22 Section 16-152 by Public Act 90-582 is the responsibility of
	488	+	23 the teacher and not the teacher's employer, unless the
	489	+	24 employer agrees, through collective bargaining or otherwise,
	490	+	25 to make the contribution on behalf of the teacher.
	491	+	26 If an employer is required by a contract in effect on May
	492	+
	493	+
	494	+
	495	+
	496	+
	497	+	HB0300 Enrolled - 14 - LRB103 03827 RJT 48833 b
	498	+
	499	+
	500	+	HB0300 Enrolled- 15 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 15 - LRB103 03827 RJT 48833 b
	501	+	HB0300 Enrolled - 15 - LRB103 03827 RJT 48833 b
	502	+	1 1, 1998 between the employer and an employee organization to
	503	+	2 pay, on behalf of all its full-time employees covered by this
	504	+	3 Article, all mandatory employee contributions required under
	505	+	4 this Article, then the employer shall be excused from paying
	506	+	5 the employer contribution required under this subsection (e)
	507	+	6 for the balance of the term of that contract. The employer and
	508	+	7 the employee organization shall jointly certify to the System
	509	+	8 the existence of the contractual requirement, in such form as
	510	+	9 the System may prescribe. This exclusion shall cease upon the
	511	+	10 termination, extension, or renewal of the contract at any time
	512	+	11 after May 1, 1998.
	513	+	12 (f) If the amount of a teacher's salary for any school year
	514	+	13 used to determine final average salary exceeds the member's
	515	+	14 annual full-time salary rate with the same employer for the
	516	+	15 previous school year by more than 6%, the teacher's employer
	517	+	16 shall pay to the System, in addition to all other payments
	518	+	17 required under this Section and in accordance with guidelines
	519	+	18 established by the System, the present value of the increase
	520	+	19 in benefits resulting from the portion of the increase in
	521	+	20 salary that is in excess of 6%. This present value shall be
	522	+	21 computed by the System on the basis of the actuarial
	523	+	22 assumptions and tables used in the most recent actuarial
	524	+	23 valuation of the System that is available at the time of the
	525	+	24 computation. If a teacher's salary for the 2005-2006 school
	526	+	25 year is used to determine final average salary under this
	527	+	26 subsection (f), then the changes made to this subsection (f)
	528	+
	529	+
	530	+
	531	+
	532	+
	533	+	HB0300 Enrolled - 15 - LRB103 03827 RJT 48833 b
	534	+
	535	+
	536	+	HB0300 Enrolled- 16 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 16 - LRB103 03827 RJT 48833 b
	537	+	HB0300 Enrolled - 16 - LRB103 03827 RJT 48833 b
	538	+	1 by Public Act 94-1057 shall apply in calculating whether the
	539	+	2 increase in his or her salary is in excess of 6%. For the
	540	+	3 purposes of this Section, change in employment under Section
	541	+	4 10-21.12 of the School Code on or after June 1, 2005 shall
	542	+	5 constitute a change in employer. The System may require the
	543	+	6 employer to provide any pertinent information or
	544	+	7 documentation. The changes made to this subsection (f) by
	545	+	8 Public Act 94-1111 apply without regard to whether the teacher
	546	+	9 was in service on or after its effective date.
	547	+	10 Whenever it determines that a payment is or may be
	548	+	11 required under this subsection, the System shall calculate the
	549	+	12 amount of the payment and bill the employer for that amount.
	550	+	13 The bill shall specify the calculations used to determine the
	551	+	14 amount due. If the employer disputes the amount of the bill, it
	552	+	15 may, within 30 days after receipt of the bill, apply to the
	553	+	16 System in writing for a recalculation. The application must
	554	+	17 specify in detail the grounds of the dispute and, if the
	555	+	18 employer asserts that the calculation is subject to subsection
	556	+	19 (g), (g-5), (g-10), (g-15), (g-20), or (h) of this Section,
	557	+	20 must include an affidavit setting forth and attesting to all
	558	+	21 facts within the employer's knowledge that are pertinent to
	559	+	22 the applicability of that subsection. Upon receiving a timely
	560	+	23 application for recalculation, the System shall review the
	561	+	24 application and, if appropriate, recalculate the amount due.
	562	+	25 The employer contributions required under this subsection
	563	+	26 (f) may be paid in the form of a lump sum within 90 days after
	564	+
	565	+
	566	+
	567	+
	568	+
	569	+	HB0300 Enrolled - 16 - LRB103 03827 RJT 48833 b
	570	+
	571	+
	572	+	HB0300 Enrolled- 17 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 17 - LRB103 03827 RJT 48833 b
	573	+	HB0300 Enrolled - 17 - LRB103 03827 RJT 48833 b
	574	+	1 receipt of the bill. If the employer contributions are not
	575	+	2 paid within 90 days after receipt of the bill, then interest
	576	+	3 will be charged at a rate equal to the System's annual
	577	+	4 actuarially assumed rate of return on investment compounded
	578	+	5 annually from the 91st day after receipt of the bill. Payments
	579	+	6 must be concluded within 3 years after the employer's receipt
	580	+	7 of the bill.
	581	+	8 (f-1) (Blank).
	582	+	9 (g) This subsection (g) applies only to payments made or
	583	+	10 salary increases given on or after June 1, 2005 but before July
	584	+	11 1, 2011. The changes made by Public Act 94-1057 shall not
	585	+	12 require the System to refund any payments received before July
	586	+	13 31, 2006 (the effective date of Public Act 94-1057).
	587	+	14 When assessing payment for any amount due under subsection
	588	+	15 (f), the System shall exclude salary increases paid to
	589	+	16 teachers under contracts or collective bargaining agreements
	590	+	17 entered into, amended, or renewed before June 1, 2005.
	591	+	18 When assessing payment for any amount due under subsection
	592	+	19 (f), the System shall exclude salary increases paid to a
	593	+	20 teacher at a time when the teacher is 10 or more years from
	594	+	21 retirement eligibility under Section 16-132 or 16-133.2.
	595	+	22 When assessing payment for any amount due under subsection
	596	+	23 (f), the System shall exclude salary increases resulting from
	597	+	24 overload work, including summer school, when the school
	598	+	25 district has certified to the System, and the System has
	599	+	26 approved the certification, that (i) the overload work is for
	600	+
	601	+
	602	+
	603	+
	604	+
	605	+	HB0300 Enrolled - 17 - LRB103 03827 RJT 48833 b
	606	+
	607	+
	608	+	HB0300 Enrolled- 18 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 18 - LRB103 03827 RJT 48833 b
	609	+	HB0300 Enrolled - 18 - LRB103 03827 RJT 48833 b
	610	+	1 the sole purpose of classroom instruction in excess of the
	611	+	2 standard number of classes for a full-time teacher in a school
	612	+	3 district during a school year and (ii) the salary increases
	613	+	4 are equal to or less than the rate of pay for classroom
	614	+	5 instruction computed on the teacher's current salary and work
	615	+	6 schedule.
	616	+	7 When assessing payment for any amount due under subsection
	617	+	8 (f), the System shall exclude a salary increase resulting from
	618	+	9 a promotion (i) for which the employee is required to hold a
	619	+	10 certificate or supervisory endorsement issued by the State
	620	+	11 Teacher Certification Board that is a different certification
	621	+	12 or supervisory endorsement than is required for the teacher's
	622	+	13 previous position and (ii) to a position that has existed and
	623	+	14 been filled by a member for no less than one complete academic
	624	+	15 year and the salary increase from the promotion is an increase
	625	+	16 that results in an amount no greater than the lesser of the
	626	+	17 average salary paid for other similar positions in the
	627	+	18 district requiring the same certification or the amount
	628	+	19 stipulated in the collective bargaining agreement for a
	629	+	20 similar position requiring the same certification.
	630	+	21 When assessing payment for any amount due under subsection
	631	+	22 (f), the System shall exclude any payment to the teacher from
	632	+	23 the State of Illinois or the State Board of Education over
	633	+	24 which the employer does not have discretion, notwithstanding
	634	+	25 that the payment is included in the computation of final
	635	+	26 average salary.
	636	+
	637	+
	638	+
	639	+
	640	+
	641	+	HB0300 Enrolled - 18 - LRB103 03827 RJT 48833 b
	642	+
	643	+
	644	+	HB0300 Enrolled- 19 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 19 - LRB103 03827 RJT 48833 b
	645	+	HB0300 Enrolled - 19 - LRB103 03827 RJT 48833 b
	646	+	1 (g-5) When assessing payment for any amount due under
	647	+	2 subsection (f), the System shall exclude salary increases
	648	+	3 resulting from overload or stipend work performed in a school
	649	+	4 year subsequent to a school year in which the employer was
	650	+	5 unable to offer or allow to be conducted overload or stipend
	651	+	6 work due to an emergency declaration limiting such activities.
	652	+	7 (g-10) When assessing payment for any amount due under
	653	+	8 subsection (f), the System shall exclude salary increases
	654	+	9 resulting from increased instructional time that exceeded the
	655	+	10 instructional time required during the 2019-2020 school year.
	656	+	11 (g-15) When assessing payment for any amount due under
	657	+	12 subsection (f), the System shall exclude salary increases
	658	+	13 resulting from teaching summer school on or after May 1, 2021
	659	+	14 and before September 15, 2022.
	660	+	15 (g-20) When assessing payment for any amount due under
	661	+	16 subsection (f), the System shall exclude salary increases
	662	+	17 necessary to bring a school board in compliance with Public
	663	+	18 Act 101-443 or this amendatory Act of the 103rd General
	664	+	19 Assembly.
	665	+	20 (h) When assessing payment for any amount due under
	666	+	21 subsection (f), the System shall exclude any salary increase
	667	+	22 described in subsection (g) of this Section given on or after
	668	+	23 July 1, 2011 but before July 1, 2014 under a contract or
	669	+	24 collective bargaining agreement entered into, amended, or
	670	+	25 renewed on or after June 1, 2005 but before July 1, 2011.
	671	+	26 Notwithstanding any other provision of this Section, any
	672	+
	673	+
	674	+
	675	+
	676	+
	677	+	HB0300 Enrolled - 19 - LRB103 03827 RJT 48833 b
	678	+
	679	+
	680	+	HB0300 Enrolled- 20 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 20 - LRB103 03827 RJT 48833 b
	681	+	HB0300 Enrolled - 20 - LRB103 03827 RJT 48833 b
	682	+	1 payments made or salary increases given after June 30, 2014
	683	+	2 shall be used in assessing payment for any amount due under
	684	+	3 subsection (f) of this Section.
	685	+	4 (i) The System shall prepare a report and file copies of
	686	+	5 the report with the Governor and the General Assembly by
	687	+	6 January 1, 2007 that contains all of the following
	688	+	7 information:
	689	+	8 (1) The number of recalculations required by the
	690	+	9 changes made to this Section by Public Act 94-1057 for
	691	+	10 each employer.
	692	+	11 (2) The dollar amount by which each employer's
	693	+	12 contribution to the System was changed due to
	694	+	13 recalculations required by Public Act 94-1057.
	695	+	14 (3) The total amount the System received from each
	696	+	15 employer as a result of the changes made to this Section by
	697	+	16 Public Act 94-4.
	698	+	17 (4) The increase in the required State contribution
	699	+	18 resulting from the changes made to this Section by Public
	700	+	19 Act 94-1057.
	701	+	20 (i-5) For school years beginning on or after July 1, 2017,
	702	+	21 if the amount of a participant's salary for any school year
	703	+	22 exceeds the amount of the salary set for the Governor, the
	704	+	23 participant's employer shall pay to the System, in addition to
	705	+	24 all other payments required under this Section and in
	706	+	25 accordance with guidelines established by the System, an
	707	+	26 amount determined by the System to be equal to the employer
	708	+
	709	+
	710	+
	711	+
	712	+
	713	+	HB0300 Enrolled - 20 - LRB103 03827 RJT 48833 b
	714	+
	715	+
	716	+	HB0300 Enrolled- 21 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 21 - LRB103 03827 RJT 48833 b
	717	+	HB0300 Enrolled - 21 - LRB103 03827 RJT 48833 b
	718	+	1 normal cost, as established by the System and expressed as a
	719	+	2 total percentage of payroll, multiplied by the amount of
	720	+	3 salary in excess of the amount of the salary set for the
	721	+	4 Governor. This amount shall be computed by the System on the
	722	+	5 basis of the actuarial assumptions and tables used in the most
	723	+	6 recent actuarial valuation of the System that is available at
	724	+	7 the time of the computation. The System may require the
	725	+	8 employer to provide any pertinent information or
	726	+	9 documentation.
	727	+	10 Whenever it determines that a payment is or may be
	728	+	11 required under this subsection, the System shall calculate the
	729	+	12 amount of the payment and bill the employer for that amount.
	730	+	13 The bill shall specify the calculations used to determine the
	731	+	14 amount due. If the employer disputes the amount of the bill, it
	732	+	15 may, within 30 days after receipt of the bill, apply to the
	733	+	16 System in writing for a recalculation. The application must
	734	+	17 specify in detail the grounds of the dispute. Upon receiving a
	735	+	18 timely application for recalculation, the System shall review
	736	+	19 the application and, if appropriate, recalculate the amount
	737	+	20 due.
	738	+	21 The employer contributions required under this subsection
	739	+	22 may be paid in the form of a lump sum within 90 days after
	740	+	23 receipt of the bill. If the employer contributions are not
	741	+	24 paid within 90 days after receipt of the bill, then interest
	742	+	25 will be charged at a rate equal to the System's annual
	743	+	26 actuarially assumed rate of return on investment compounded
	744	+
	745	+
	746	+
	747	+
	748	+
	749	+	HB0300 Enrolled - 21 - LRB103 03827 RJT 48833 b
	750	+
	751	+
	752	+	HB0300 Enrolled- 22 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 22 - LRB103 03827 RJT 48833 b
	753	+	HB0300 Enrolled - 22 - LRB103 03827 RJT 48833 b
	754	+	1 annually from the 91st day after receipt of the bill. Payments
	755	+	2 must be concluded within 3 years after the employer's receipt
	756	+	3 of the bill.
	757	+	4 (j) For purposes of determining the required State
	758	+	5 contribution to the System, the value of the System's assets
	759	+	6 shall be equal to the actuarial value of the System's assets,
	760	+	7 which shall be calculated as follows:
	761	+	8 As of June 30, 2008, the actuarial value of the System's
	762	+	9 assets shall be equal to the market value of the assets as of
	763	+	10 that date. In determining the actuarial value of the System's
	764	+	11 assets for fiscal years after June 30, 2008, any actuarial
	765	+	12 gains or losses from investment return incurred in a fiscal
	766	+	13 year shall be recognized in equal annual amounts over the
	767	+	14 5-year period following that fiscal year.
	768	+	15 (k) For purposes of determining the required State
	769	+	16 contribution to the system for a particular year, the
	770	+	17 actuarial value of assets shall be assumed to earn a rate of
	771	+	18 return equal to the system's actuarially assumed rate of
	772	+	19 return.
	773	+	20 (Source: P.A. 101-10, eff. 6-5-19; 101-81, eff. 7-12-19;
	774	+	21 102-16, eff. 6-17-21; 102-525, eff. 8-20-21; 102-558, eff.
	775	+	22 8-20-21; 102-813, eff. 5-13-22.)
	776	+	23 Section 10. The School Code is amended by changing Section
	777	+	24 24-8 as follows:
	778	+
	779	+
	780	+
	781	+
	782	+
	783	+	HB0300 Enrolled - 22 - LRB103 03827 RJT 48833 b
	784	+
	785	+
	786	+	HB0300 Enrolled- 23 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 23 - LRB103 03827 RJT 48833 b
	787	+	HB0300 Enrolled - 23 - LRB103 03827 RJT 48833 b
	788	+	1 (105 ILCS 5/24-8) (from Ch. 122, par. 24-8)
	789	+	2 Sec. 24-8. Minimum salary. In fixing the salaries of
	790	+	3 teachers, school boards shall pay those who serve on a
	791	+	4 full-time basis not less than a rate for the school year that
	792	+	5 is based upon training completed in a recognized institution
	793	+	6 of higher learning, as follows: for the school year beginning
	794	+	7 July 1, 1980 and until the 2020-2021 school year, less than a
	795	+	8 bachelor's degree, $9,000; 120 semester hours or more and a
	796	+	9 bachelor's degree, $10,000; 150 semester hours or more and a
	797	+	10 master's degree, $11,000. In fixing the salaries of teachers,
	798	+	11 a school board shall pay those who serve on a full-time basis a
	799	+	12 rate not less than (i) $32,076 for the 2020-2021 school year,
	800	+	13 (ii) $34,576 for the 2021-2022 school year, (iii) $37,076 for
	801	+	14 the 2022-2023 school year, and (iv) $40,000 for the 2023-2024
	802	+	15 school year. The minimum salary rate for each school year
	803	+	16 thereafter, subject to review by the General Assembly, shall
	804	+	17 equal the minimum salary rate for the previous school year
	805	+	18 increased by a percentage equal to the annualized percentage
	806	+	19 increase, if any, in the Consumer Price Index for All Urban
	807	+	20 Consumers for all items published by the United States
	808	+	21 Department of Labor for the 12-month period ending on June 30
	809	+	22 of the school year that ended 12 months prior to the school
	810	+	23 year in which the adjusted salary is to be in effect the
	811	+	24 previous school year.
	812	+	25 In accordance with this Section, the Commission on
	813	+	26 Government Forecasting and Accountability shall certify and
	814	+
	815	+
	816	+
	817	+
	818	+
	819	+	HB0300 Enrolled - 23 - LRB103 03827 RJT 48833 b
	820	+
	821	+
	822	+	HB0300 Enrolled- 24 -LRB103 03827 RJT 48833 b HB0300 Enrolled - 24 - LRB103 03827 RJT 48833 b
	823	+	HB0300 Enrolled - 24 - LRB103 03827 RJT 48833 b
	824	+	1 publish the minimum salary rate to be used for the 2024-2025
	825	+	2 school year no later than September 30, 2023. By no later than
	826	+	3 July 20, 2024 and annually on or before each July 20
	827	+	4 thereafter, the Commission on Government Forecasting and
	828	+	5 Accountability shall certify and publish the minimum salary
	829	+	6 rate to be used for each school year after the 2024-2025 school
	830	+	7 year in accordance with this Section.
	831	+	8 On or before January 31, 2020, the Professional Review
	832	+	9 Panel created under Section 18-8.15 must submit a report to
	833	+	10 the General Assembly on how State funds and funds distributed
	834	+	11 under the evidence-based funding formula under Section 18-8.15
	835	+	12 may aid the financial effects of the changes made by this
	836	+	13 amendatory Act of the 101st General Assembly.
	837	+	14 Based upon previous public school experience in this State
	838	+	15 or any other state, territory, dependency or possession of the
	839	+	16 United States, or in schools operated by or under the auspices
	840	+	17 of the United States, teachers who serve on a full-time basis
	841	+	18 shall have their salaries increased to at least the following
	842	+	19 amounts above the starting salary for a teacher in such
	843	+	20 district in the same classification: with less than a
	844	+	21 bachelor's degree, $750 after 5 years; with 120 semester hours
	845	+	22 or more and a bachelor's degree, $1,000 after 5 years and
	846	+	23 $1,600 after 8 years; with 150 semester hours or more and a
	847	+	24 master's degree, $1,250 after 5 years, $2,000 after 8 years
	848	+	25 and $2,750 after 13 years.
	849	+	26 For the purpose of this Section a teacher's salary shall
	850	+
	851	+
	852	+
	853	+
	854	+
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	856	+
	857	+
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	859	+	HB0300 Enrolled - 25 - LRB103 03827 RJT 48833 b
	860	+	1 include any amount paid by the school district on behalf of the
	861	+	2 teacher, as teacher contributions, to the Teachers' Retirement
	862	+	3 System of the State of Illinois.
	863	+	4 If a school board establishes a schedule for teachers'
	864	+	5 salaries based on education and experience, not inconsistent
	865	+	6 with this Section, all certificated nurses employed by that
	866	+	7 board shall be paid in accordance with the provisions of such
	867	+	8 schedule.
	868	+	9 For purposes of this Section, a teacher who submits a
	869	+	10 certificate of completion to the school office prior to the
	870	+	11 first day of the school term shall be considered to have the
	871	+	12 degree stated in such certificate.
	872	+	13 (Source: P.A. 101-443, eff. 6-1-20.)
	873	+
	874	+
	875	+
	876	+
	877	+
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