For TRS members who used sick time during the 2021-22 school year to deal with the coronavirus, the bill requires school districts to replace any “sick time” used for that purpose with the new COVID-19 administrative leave time. Pritzker signed this bill that creates “COVID-19 paid administrative leave” time for TRS members who are fully vaccinated against the coronavirus. Other TRS legislation of interest being considered by lawmakers this spring includes: This is the first time since 1994 that the state’s annual pension contribution will exceed the statutory minimum in two straight years. The TRS unfunded liability is $80 billion. The total long-term liability of the state’s five pension systems currently stands at $236.5 billion. It’s expected the payment to TRS will total $6.16 billion with the extra money. In fiscal year 2023, the state’s minimum statutory payment for TRS is $5.9 billion. Pritzker said the added funds will reduce the future long-term liability of the state’s pension systems by an estimated $1.8 billion. In his fiscal year 2023 state budget address, Gov. The remaining $200 million in the governor’s pension funding plan will be added to the upcoming fiscal year 2023 state budget, which includes $9.6 billion for state pensions. Senate Bill 2803, which adds $300 million to the fiscal year 2022 state pension allocation of $9.4 billion, was approved in late March by the General Assembly and signed into law by Gov. Pritzker has proven to be very supportive of our 432,000 members and their futures.” “Governor Pritzker’s proposal to allocate a total of $19.5 billion to public pensions over two consecutive years reaffirms his strong partnership with generations of Illinois teachers,” said TRS Board President Matthew Hunt. The governor’s plan to appropriate more money than the minimum requirement to Illinois’ public pensions has been praised by TRS leaders as a commitment to improve the retirement security of the state’s teachers. JB Pritzker’s call for $500 million in “above-and-beyond” state pension funding in fiscal years 20 leads the list of spring initiatives in the General Assembly that affect TRS, its members and stakeholders. Pritzker Calls for $500 Million in “Extra” Funding for State Pensions

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