Illinois HB3954 appropriates funds from various state funds for teacher retirement contributions and health insurance for fiscal year 2025.
Illinois HB3954 allocates funds from the Common School Fund, Education Assistance Fund, and General Revenue Fund to the Teachers' Retirement System and Public School Teachers' Pension and Retirement Fund of Chicago. The bill also provides for the Teacher Health Insurance Security Fund. The appropriations cover state contributions for teacher retirement, additional costs due to minimum retirement allowances, and adjustments to earnings limitations. The act takes effect July 1, 2025.
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