HB2440 Summary

• Amends the Illinois Pension Code Section 15-107 to clarify that persons employed by the Department of Innovation and Technology in positions with the Illinois Century Network are considered employees under the Teachers' Retirement System if continuously employed after June 30, 2004.

• Updates Section 15-107(i) to specify that teacher organization employees must file an irrevocable election to participate in the system before January 5, 2012 (the effective date of Public Act 97-651).

• Modifies Section 15-110 regarding basic compensation to clarify that elective deferrals to deferred compensation plans under Article 24 of the Pension Code are included in compensation calculations.

• Removes the reference to age 22 limitation for disabled unmarried children in Section 15-145(c), allowing disabled children over age 18 to continue receiving survivors benefits as long as the disability persists.

• Takes effect upon becoming law.