IL SB0082

Creates new definitions for "Tier 1 benefits" (applicable to members who first became members before January 1, 2011) and "Tier 2 benefits" (applicable to members who first became members on or after January 1, 2011 or made certain elections).

Requires employers to pay to the Downstate Teacher Retirement System the projected increase in employer normal cost of benefits resulting from any salary increase for school years beginning on or after July 1, 2020, calculated separately for Tier 1 and Tier 2 benefits.

Excludes from this new requirement salary increases paid under contracts or collective bargaining agreements entered into, amended, or renewed before June 4, 2018, and earnings increases paid to members who first become members on or after a specified implementation date.

Amends the State Mandates Act to provide that implementation of this Act requires no state reimbursement to local units of government.

Takes effect immediately upon becoming law.