IL SB3127

Establishes annual State contributions to the Public School Teachers' Pension and Retirement Fund beginning in State fiscal year 2015.

Sets the State contribution for fiscal year 2015 at $343,860,000.

Requires the Board of Trustees to certify the annual State contribution amount to the Governor by January 15th each year, with the certified amount equal to 10% of the contribution certified for the downstate teachers retirement system.

Takes effect immediately upon becoming law.