HB5554 Summary

• Amends Section 17-149 of the Illinois Pension Code concerning the Chicago Teachers' Pension Fund (CTPF) to allow service retirement pensioners to be re-employed as administrators on a temporary, non-annual, or hourly basis without cancellation of their pension.

• Permits re-employment as an administrator for up to 140 days per school year without triggering pension cancellation, provided re-employment does not require contributions, create service credit, or establish active Fund membership.

• Maintains existing rules for teacher re-employment: permanent or annual re-employment as a teacher still triggers pension cancellation, while temporary or hourly teacher re-employment remains allowed under previous day and compensation limits.

• Requires pensioners to notify the Fund and Board of Education before beginning re-employment under these provisions, and requires employers to certify to the Fund the status and compensation of re-employed pensioners on a quarterly basis.

• Takes effect immediately upon becoming law.