HB-5806 Summary

• Amends the Public School Employees Retirement Act to modify rules governing retirants who become reemployed by school districts, allowing exceptions to benefit forfeiture under certain conditions.

• Extends until July 1, 2018 a temporary provision allowing retirants retired after June 30, 2010 to work as substitute teachers, instructional coaches, or school improvement facilitators without losing retirement benefits if earnings do not exceed 1/3 of final average compensation.

• Requires reporting units to pay 100% of unfunded actuarial accrued liability contribution rates for retiree health care and pension costs when hiring retirants for critical shortage discipline positions under the extended temporary provision.

• Allows retirants employed by universities in teaching or research capacity to continue receiving full retirement benefits without service credit recomputation, provided universities report such employment annually.

• Maintains forfeiture of retirement allowance and health care subsidies for retirants whose post-retirement earnings exceed 1/3 of final average compensation, except under specific exemptions for critical staffing situations.