HB4576

Illinois HB4576 mandates charter and contract schools to retain payroll records and pension contributions for five years.

HB4576 amends the Illinois Pension Code to require charter and contract schools to keep payroll records and pension contributions for at least five years. The bill also allows a conditional grace period for contract schools that demonstrate good faith efforts to submit records and contributions. If records and contributions are not submitted by April 1, 2022, statutory penalties, liquidated damages, and interest apply. The Board has authority to audit payroll records and collect delinquencies through legal proceedings.