Statutes, codes, and regulations
Illinois Administrative Code
Title 80 - PUBLIC OFFICIALS AND EMPLOYEESPart 1650 - THE ADMINISTRATION AND OPERATION OF THE TEACHERS' RETIREMENT SYSTEM
Subpart E - CONTRIBUTION CREDITS AND PAYMENTS
Section 1650.483 - Employer Contributions for Salary Increases in Excess of 6% or 3% and Excess Sick Leave - Exemption from Contributions

Ill. Admin. Code tit. 80 § 1650.483

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Current through Register Vol. 48, No. 45, November 8, 2024
Section 1650.483 - Employer Contributions for Salary Increases in Excess of 6% or 3% and Excess Sick Leave - Exemption from Contributions
a) The exemptions from employer contributions provided under 40 ILCS 5/16-128 (d-10) and 40 ILCS 5/16-158(f) for those members who notify their employer of the intent to retire under the terms of an exempt contract or collective bargaining agreement but do not receive the retirement incentives until after the expiration of the contract or collective bargaining agreement shall cease no later than three school years after the expiration of the contract or collective bargaining agreement or June 30, 2011, whichever is earlier.
b) The exemptions from employer contributions provided under 40 ILCS 5/16-158 (f-1) for those members who notify their employer of the intent to retire under the terms of an exempt contract or collective bargaining agreement but do not receive the retirement incentives until after the expiration of the contract or collective bargaining agreement shall cease no later than four consecutive school years after the expiration of the contract or collective bargaining agreement.
c) If a contract or collective bargaining agreement terminates or is amended during the school year, for the purpose of calculating the employer contribution:
1) If the contract or collective bargaining agreement expires July 1 through December 31, the System will consider the expiration date to be the last day of the prior fiscal year.
2) If the contract or collective bargaining agreement expires January 1 through June 29, the System will consider the expiration date to be the last day of the current fiscal year.
d) An amendment to an exempt contract or collective bargaining agreement to reduce a retirement incentive for purposes of 40 ILCS 5/16-128 (d-10), 16-158(f), or 16-158(f-1) shall not terminate an employer's exempt status.

Ill. Admin. Code tit. 80, § 1650.483

Added at 30 Ill. Reg. 194, effective December 23, 2005

Amended at 42 Ill. Reg. 22238, effective 11/20/2018