PENCD-TRS-EMPLOYR CONTRIBUTION

Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that beginning in school year 2021 and each year thereafter, the System shall calculate the projected amount of the increase in the employer normal cost of benefits, expressed as a percentage of salary and reflecting separate amounts for Tier 1 and Tier 2 benefits, resulting from any increase in salary over the preceding school year, expressed as a percentage of salary. Provides that except for a teacher who first becomes a teacher on or after the implementation date of certain benefits and except for salary increases paid to a teacher under a contract or collective bargaining agreement entered into, amended, or renewed before July 1, 2021, if the amount of a teacher's salary for any school year beginning on or after July 1, 2021 exceeds the teacher'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 projected amount of the increase in the employer normal cost of benefits, as determined by the System and reflecting whether the teacher will receive Tier 1 or Tier 2 benefits, resulting from the increase in the teacher's salary over the previous school year. Excludes earning increases paid to members who first become members on or after the implementation date of certain benefits. Defines "Tier 1 benefits" and "Tier 2 benefits". Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.