SB1814 Summary

• Beginning in fiscal year 2019, employers must pay the System the current value of projected benefit increases resulting from teacher salary increases over the previous school year, calculated separately for Tier 1 and Tier 2 members.

• Excludes from this requirement earnings increases paid under contracts or collective bargaining agreements entered into, amended, or renewed before the bill's effective date.

• Defines "Tier 1 member" as a member who first became a member before January 1, 2011, and "Tier 2 member" as a member who first becomes a member on or after January 1, 2011.

• Repeals the unconstitutional definition of "Tier 1 member" previously added by Public Act 98-599.

• Amends the State Mandates Act to require implementation without state reimbursement to local employers; effective immediately upon enactment.