IL SB1224

Excludes payments for unused sick or vacation time from "earnings" calculations for public employees who first become participants on or after the effective date of this act across multiple pension systems (Articles 7, 9, 14, 15, 16, and 17 of the Illinois Pension Code)

Prevents unused sick or vacation time from being used to compute service credit for employees who first become members after the effective date, while preserving these benefits for employees hired before this act takes effect

Modifies final rate of earnings calculations to exclude lump sum payments for unused sick or vacation time for new participants, while allowing such payments for existing employees

Applies restrictions uniformly across Illinois public employee pension systems including municipal employees, county employees, teachers, and State Universities retirement systems

Grandfathers existing employees by limiting new restrictions only to participants who first join their respective pension systems after the act's effective date