Synopsis As Introduced Amends the State Employee, State Universities, and Downstate Teacher Articles of the Illinois Pension Code. Provides that service credit is not available for unused sick leave accumulated by a person who first participates in the System on or after the effective date of this amendatory Act. Effective immediately.
HB 3264 will reduce the pension liabilities of TRS, SERS, and SURS because unused sick leave will no longer provide service credit for employees hired after the effective date of this act. The fiscal impact upon TRS, SERS, and SURS cannot be precisely determined because the number of unused sick days not counted toward service credit in the future cannot be determined at this time.