IL HB6140

Amends the Illinois Pension Code (40 ILCS 5/15-107 and 5/16-106) to limit participation in the Teachers' Retirement System for new employees of school board associations operating under Article 23 of the School Code, effective immediately upon becoming law.

Limits participation in the State Universities Retirement System for employees hired after the effective date by the Illinois Association of School Administrators, Illinois Principals Association, Special Olympics Illinois, Illinois Association of School Business Officials, Illinois Association for Supervision and Curriculum Development, Illinois Manufacturing Extension Center, and Association of Illinois Middle Grade Schools.

Grandfathers existing employees: persons already employed by these organizations on the effective date may continue participating in their respective retirement systems for the duration of their employment with those organizations.

Does not affect employees already participating in either retirement system on the effective date; the restrictions apply only to new hires after the law takes effect.