HB2853 Summary

• Allows teachers to establish one additional day of service credit for each day earned between March 16, 2020 and June 30, 2021 if they provided in-person instruction during that period, upon payment of required contributions and submission of satisfactory evidence.

• For Tier 1 members age 59 or older with 2020-2021 school year service credit, waives the reduction in retirement annuity for early retirement before age 60; members under age 59 with such service credit are deemed one year older for annuity reduction purposes.

• For Tier 2 members age 66 or older with 2020-2021 school year service credit, waives the reduction in retirement annuity for early retirement before age 67; members under age 66 with such service credit are deemed one year older for annuity reduction purposes.

• Excludes any benefit increases resulting from this bill from the definition of "new benefit increase" for purposes of sunset provisions and funding requirements under Section 16-203.

• Takes effect immediately upon becoming law.