IL HB2502

Amends Illinois Pension Code Section 17-114 to add caps on service credit: contributors cannot earn more than one year of service credit per fiscal year, more than one day per calendar day, or more than 10 days in a 2-week period.

Modifies Section 17-132 to require employers to report compensation for validated service on payroll records, identifying the number of days of service (partial or whole day) rendered by members.

Changes Section 17-132 to expand charter school pension officer responsibilities to certify all payroll information including contributions due and certified sick days payable under Section 17-134.

Amends Section 17-149 to allow service retirement pensioners re-employed on temporary, non-annual, or hourly basis to keep their pension if they work no more than 100 days per school year and earn no more than $30,000 (or a daily rate calculation for retired principals with 5+ years of service).

Adds Section 8.39 to the State Mandates Act declaring that no state reimbursement is required for implementation of mandates created by this amendatory act.