IL SB0104

Amends the Illinois Pension Code to prohibit payments for unused sick or vacation time from being counted as pensionable earnings and salary for participants who first become members on or after the bill's effective date.

Prevents unused sick or vacation time from being used to establish service credit for new participants in six pension systems: Illinois Municipal Retirement Fund (IMRF), Cook County, State Employees, State Universities, Downstate Teachers, and Chicago Teachers.

Applies restrictions across multiple pension articles and sections, affecting calculations of final rate of earnings, membership service credit, and creditable service.

Grandfathers existing participants by allowing current members to continue using unused sick and vacation time for pension calculations under prior rules.

Takes effect immediately upon becoming law.