Illinois - HB353

SCH CD-POST-RETIREMENT BONUS

Introduced

January 11, 2017

Description

Amends the School Code with respect to school districts other than the Chicago school district. Prohibits any post-retirement educator bonus not required by a valid contract entered into before the effective date of the amendatory Act, and prohibits a school district from entering into a contract on or after the effective date of the amendatory Act that provides for a post-retirement educator bonus or bonuses. Defines ""post-retirement educator bonus"" as any payment made by a school district to an educator licensed under the School Code who has commenced his or her retirement and is collecting a retirement annuity from the Teachers' Retirement System of the State of Illinois, other than compensation for current employment with the school district. Requires each school district to annually ...

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