PEN CD-CHICAGO TEACHERS-SALARY

Amends the Chicago Teachers Article of the Illinois Pension Code. Changes the method for calculating validated service. Limits the amount of pension credit that may be granted each year. Authorizes deductions for omissions made in prior pay periods. Requires deductions to be made whenever salary represents pay for a day or part of a day (rather than pay for 5 days). Makes other changes concerning the administration of payroll deductions. Requires employers to cause the Fund to receive all payroll records and pension contributions (rather than just pension contributions) within 30 calendar (rather than 15 business) days after each predesignated payday. Makes other changes concerning the payment and certification of salary deductions. Amends the State Mandates Act to require implementation without reimbursement. Effective July 1, 2011.