Sen. Don Harmon

Filed: 4/30/2012

 

 


 

 


 
09700HB1605sam002LRB097 07147 EFG 69025 a

1
AMENDMENT TO HOUSE BILL 1605

2    AMENDMENT NO. ______. Amend House Bill 1605 AS AMENDED, by
3replacing everything after the enacting clause with the
4following:
 
5    "Section 5. The Illinois Pension Code is amended by
6changing Section 7-144 as follows:
 
7    (40 ILCS 5/7-144)  (from Ch. 108 1/2, par. 7-144)
8    Sec. 7-144. Retirement annuities-Suspended during
9employment.
10    (a) If any any person receiving any annuity again becomes
11an employee and receives earnings from employment in a position
12requiring him, or entitling him to elect, to become a
13participating employee, then the annuity payable to such
14employee shall be suspended as of the 1st day of the month
15coincidental with or next following the date upon which such
16person becomes such an employee. Upon proper qualification of

 

 

09700HB1605sam002- 2 -LRB097 07147 EFG 69025 a

1the participating employee payment of such annuity may be
2resumed on the 1st day of the month following such
3qualification and upon proper application therefor. The
4participating employee in such case shall be entitled to a
5supplemental annuity arising from service and credits earned
6subsequent to such re-entry as a participating employee.
7    (b) Supplemental annuities to persons who return to service
8for less than 48 months shall be computed under the provisions
9of Sections 7-141, 7-142 and 7-143. In determining whether an
10employee is eligible for an annuity which requires a minimum
11period of service, his entire period of service shall be taken
12into consideration but the supplemental annuity shall be based
13on earnings and service in the supplemental period only. The
14effective date of the suspended and supplemental annuity for
15the purpose of increases after retirement shall be considered
16to be the effective date of the suspended annuity.
17    (c) Supplemental annuities to persons who return to service
18for 48 months or more shall be a monthly amount determined as
19follows:
20        (1) An amount shall be computed under subparagraph b of
21    paragraph (1) of subsection (a) of Section 7-142,
22    considering all of the service credits of the employee;
23        (2) The actuarial value in monthly payments for life of
24    the annuity payments made before suspension shall be
25    determined and subtracted from the amount determined in (1)
26    above;

 

 

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1        (3) The monthly amount of the suspended annuity, with
2    any applicable increases after retirement computed from
3    the effective date to the date of reinstatement, shall be
4    subtracted from the amount determined in (2) above and the
5    remainder shall be the amount of the supplemental annuity
6    provided that this amount shall not be less than the amount
7    computed under subsection (b) of this Section.
8        (4) The suspended annuity shall be reinstated at an
9    amount including any increases after retirement from the
10    effective date to date of reinstatement.
11        (5) The effective date of the combined suspended and
12    supplemental annuities for the purposes of increases after
13    retirement shall be considered to be the effective date of
14    the supplemental annuity.
15(Source: P.A. 97-328, eff. 8-12-11; 97-609, eff. 1-1-12.)".