PEN CD-EMPLOYER CONTRIBUTIONS

Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that beginning in fiscal year 2019 and each fiscal year thereafter, the System shall calculate the projected amount of increase in benefits, expressed as a percentage of salary and reflecting separate amounts for Tier 1 and Tier 2 members, resulting from any increase in salary over the preceding school year, expressed as a percentage of salary. Provides that if the amount of a teacher's salary for any school year beginning on or after July 1, 2018 exceeds the member's annual full-time salary rate with the same employer for the previous school year, then the teacher's employer shall pay to the System the current value of the projected amount of the increase in benefits, as determined by the System and reflecting whether the teacher is a Tier 1 or Tier 2 member, resulting from the increase in the member's salary over the previous school year. Excludes earnings increases paid to members under contracts or collective bargaining agreements entered into, amended, or renewed before the effective date of the amendatory Act. Defines "Tier 1 member" and "Tier 2 member". Repeals the definition of "Tier 1 member" added by Public Act 98-599, which has been held unconstitutional. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.