Section 1650.483  Employer Contributions for Salary Increases in Excess of 6% and Excess Sick Leave – Exemption from Contributions

a)         The exemptions from employer contributions provided under 40 ILCS 5/16-128(d-10) and 40 ILCS 5/16-158(f) for those members who notify their employer of the intent to retire under the terms of an exempt contract or collective bargaining agreement but do not receive such incentives until after the expiration of the contract or collective bargaining agreement shall cease no later than three school years after the expiration of the contract or collective bargaining agreement or June 30, 2011, whichever is earlier.

b)         If a contract or collective bargaining agreement terminates during the school year, for the purpose of calculating the employer contribution:

1)         If the contract or collective bargaining agreement expires July 1 through December 31, the System will consider the expiration date to be the last day of the prior fiscal year.

2)         If the contract or collective bargaining agreement expires January 1 through June 29, the System will consider the expiration date to be the last day of the current fiscal year.

c)         An amendment to an exempt contract or collective bargaining agreement to reduce a retirement incentive for purposes of Section 16-128(d-10) or 16-158(f) shall not terminate an employer's exempt status.

(Source:  Added at 30 Ill. Reg. 194, effective December 23, 2005)