IL HB0437

Amends Section 16-152.1 of the Illinois Pension Code concerning the Downstate Teachers Article to prohibit employers from making employee pension contributions on behalf of employees, except to allow pre-tax contributions.

Exempts existing employment contracts and collective bargaining agreements from the prohibition if they were in effect on the effective date of this amendatory Act.

Applies the prohibition to existing contracts or agreements that are subsequently modified, amended, renewed, or remain in effect for 3 or more years after the effective date of this Act.

Takes effect immediately upon becoming law.