IL SB3252

Requires Chicago Board of Education to remit delinquent pension contributions within 30 days after each payday, with $100 per day penalty for late submission and interest accruing at the Fund's actuarial rate plus liquidated damages up to 20% of principal contributions.

Allows Chicago Teachers' Pension Fund to certify delinquent employer or teacher contributions to the State Comptroller or State Superintendent of Education after 180 days past due, enabling the state to deduct amounts from State funds owed to the Board of Education and remit them to the Fund.

Requires charter school contracts to include provisions allowing school districts to withhold funding equal to any delinquent pension contributions by the charter school and remit those amounts to the affected pension fund or retirement system.

Designates a "Pension Officer" at each charter school and contract school responsible for certifying payroll information and contributions due, and authorizes the Chicago Teachers' Pension Fund Board to conduct payroll audits and collect delinquencies through legal proceedings.

Provides a conditional grace period for contract schools demonstrating timely and good faith efforts to submit payroll records and pension contributions between January 1, 2022 and April 1, 2022, with penalties calculated from original due date if not submitted by April 1, 2022.