IL SB1996

Replaces the term "special services" with "extracurricular activities" in pension deduction calculations under the Illinois Pension Code sections 17-131 and 17-132.

Excludes overtime, extracurricular activities, and optional employment (such as summer school) from pensionable salary used to calculate pension deductions.

Requires employers to submit payroll records and pension contributions to the Fund within 30 calendar days after each payday, with a $100 per day penalty for late submission.

Imposes delinquent contribution penalties including accrued interest at the Fund's actuarial rate of return plus liquidated damages of $100 per day (capped at 20% of principal contributions).

Requires charter schools to designate a "Pension Officer" responsible for certifying payroll information and resolving contribution deficiencies, and authorizes the Board to conduct payroll audits and collect delinquent contributions.