IL SB1451

Amends the General Assembly Retirement System (GARS) funding requirements in the Illinois Pension Code to create a tiered contribution structure based on the system's funded ratio

When the system reaches at least 90% funded status, the State's minimum contribution shifts to the normal cost plus a supplemental payment calculated using 30-year rolling amortization targeting 120% funding

State contributions limited to normal cost only when the system's funded ratio is between 120% and 130%

No State contribution required (neither normal cost nor supplemental payment) in any fiscal year when the system's funded ratio exceeds 130%

Maintains existing funding framework requiring 90% funded status by fiscal year 2045, with the new tiered structure applying once the 90% threshold is reached