IL SB0438

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

Creates an exception for retired teachers who teach only driver education courses after regular school hours, allowing them to work up to 900 hours per school year while retaining their pension, subject to the same $30,000 compensation limit.

Requires pensioners seeking re-employment under these provisions to notify both the pension fund and school board before beginning work, and requires school boards to certify employment status and compensation quarterly.

Cancels the service retirement pension if the pensioner exceeds the 100-day work limit, 900-hour limit for driver education instructors, or compensation limits in any school year beginning on or after August 8, 2012.

Makes these changes apply retroactively without regard to when the employee's original service termination occurred.