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90_SB1344
40 ILCS 5/15-139 from Ch. 108 1/2, par. 15-139
Amends the State Universities Article of the Illinois
Pension Code. Deletes language reducing the retirement
annuity of a person who retires before age 60 and returns to
employment under Article 14 or 16 of the Code. Effective
immediately.
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1 AN ACT to amend the Illinois Pension Code by changing
2 Section 15-139.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 15-139 as follows:
7 (40 ILCS 5/15-139) (from Ch. 108 1/2, par. 15-139)
8 Sec. 15-139. Retirement annuities; cancellation;
9 suspended during employment.
10 (a) If an annuitant returns to employment for an
11 employer within 60 days after the beginning of the retirement
12 annuity payment period, the retirement annuity shall be
13 cancelled, and the annuitant shall refund to the System the
14 total amount of the retirement annuity payments which he or
15 she received. If the retirement annuity is cancelled, the
16 participant shall continue to participate in the System.
17 (b) If an annuitant retires prior to age 60 and receives
18 or becomes entitled to receive during any month compensation
19 in excess of the monthly retirement annuity for services
20 performed after the date of retirement for any employer under
21 this System, the State Employees' Retirement System of
22 Illinois, or the Teachers' Retirement System of the State of
23 Illinois, that portion of the monthly retirement annuity
24 provided by employer contributions shall not be payable.
25 If an annuitant retires at age 60 or over and receives or
26 becomes entitled to receive during any academic year
27 compensation in excess of the difference between his or her
28 highest annual earnings prior to retirement and his or her
29 annual retirement annuity computed under Rule 1, Rule 2, Rule
30 3 or Rule 4 of Section 15-136 for services performed after
31 the date of retirement for any employer under this System,
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1 that portion of the monthly retirement annuity provided by
2 employer contributions shall be reduced by an amount equal to
3 the compensation that exceeds such difference.
4 However, any remuneration received for serving as a
5 member of the Illinois Educational Labor Relations Board
6 shall be excluded from "compensation" for the purposes of
7 this subsection (b), and serving as a member of the Illinois
8 Educational Labor Relations Board shall not be deemed to be a
9 return to employment for the purposes of this Section. This
10 provision applies without regard to whether service was
11 terminated prior to the effective date of this amendatory Act
12 of 1991.
13 (c) If an employer certifies that an annuitant has been
14 reemployed on a permanent and continuous basis or in a
15 position in which the annuitant is expected to serve for at
16 least 9 months, the annuitant shall resume his or her status
17 as a participating employee and shall be entitled to all
18 rights applicable to participating employees upon filing with
19 the board an election to forego all annuity payments during
20 the period of reemployment. Upon subsequent retirement, the
21 retirement annuity shall consist of the annuity which was
22 terminated by the reemployment, plus the additional
23 retirement annuity based upon service granted during the
24 period of reemployment, but the combined retirement annuity
25 shall not exceed the maximum annuity applicable on the date
26 of the last retirement.
27 The total service and earnings credited before and after
28 the initial date of retirement shall be considered in
29 determining eligibility of the employee or the employee's
30 beneficiary to benefits under this Article, and in
31 calculating final rate of earnings.
32 In determining the death benefit payable to a beneficiary
33 of an annuitant who again becomes a participating employee
34 under this Section, accumulated normal and additional
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1 contributions shall be considered as the sum of the
2 accumulated normal and additional contributions at the date
3 of initial retirement and the accumulated normal and
4 additional contributions credited after that date, less the
5 sum of the annuity payments received by the annuitant.
6 The survivors insurance benefits provided under Section
7 15-145 shall not be applicable to an annuitant who resumes
8 his or her status as a participating employee, unless the
9 annuitant, at the time of initial retirement, has a survivors
10 insurance beneficiary who could qualify for such benefits.
11 If the annuitant's employment is terminated because of
12 circumstances other than death before 9 months from the date
13 of reemployment, the provisions of this Section regarding
14 resumption of status as a participating employee shall not
15 apply. The normal and survivors insurance contributions which
16 are deducted during this period shall be refunded to the
17 annuitant without interest, and subsequent benefits under
18 this Article shall be the same as those which were applicable
19 prior to the date the annuitant resumed employment.
20 (Source: P.A. 86-1488.)
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.