Attorney General Opinions
Superintendents defined as teachers
Regional school superintendents, even though elected to their positions, are defined as teachers under the Illinois Pension Code and are subject to the same provisions of the Teachers' Retirement System (Ill. Rev. Stat. 1979, ch. 1081/2 sec. 16-123). Therefore, like teachers, a regional superintendent retiring after August 31, 1979, will have any salary that exceeds the previous year's salary by 20 percent excluded from the calculation of his average salary (P.A. 81-150). (Attorney General File No. 81-005)

State money not under Public Funds Act

Because the deposit of state money by the treasurer is regulated by the State Moneys Act, any changes in the Public Funds Act would not apply to state money. The Public Funds Act, which applies to investing public funds in general, was amended to require that public funds be deposited into accounts bearing the highest prevailing interest rates (P.A. 81-1181). This amendment does not apply to the state treasurer who often deposits money into special purpose time deposits after taking bids from banks that wish to participate, according to the attorney general (File No. 81-004). □

June 1981/Illinois Issues/29