Full Text of HB3856 97th General Assembly
HB3856 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 HB3856 Introduced 10/24/2011, by Rep. Timothy L. Schmitz SYNOPSIS AS INTRODUCED: |
| 40 ILCS 5/2-122 | from Ch. 108 1/2, par. 2-122 |
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Amends the General Assembly Article of the Illinois Pension Code. Provides that, beginning on the effective date of the amendatory Act, if a member is receiving a retirement annuity under the Article and is elected or appointed to a position that is subject to election under the Election Code and if the annual salary the member is to receive in that position exceeds the lowest annual salary paid to a General Assembly member for service in the General Assembly, as calculated on the date of election or appointment, then the person's retirement annuity under the Article shall be suspended during that employment. Provides that, upon termination of that employment, the person's retirement annuity shall resume and, if appropriate, be recalculated. Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | PENSION IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| 1 | | AN ACT concerning public employee benefits.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Illinois Pension Code is amended by changing | 5 | | Section 2-122 as follows:
| 6 | | (40 ILCS 5/2-122) (from Ch. 108 1/2, par. 2-122)
| 7 | | Sec. 2-122. Re-entry after retirement. An annuitant who | 8 | | re-enters service as a member shall become a
participant on the | 9 | | date of re-entry and retirement annuity
payments shall cease at | 10 | | that time. The participant shall resume contributions
to the | 11 | | system on the date of re-entry at the rates then in effect and | 12 | | shall
begin to accrue additional service credit. He or she | 13 | | shall be entitled
to all rights
and privileges in the system, | 14 | | including death and disability benefits,
subject to the | 15 | | limitations herein provided, except refund of retirement
| 16 | | annuity contributions.
| 17 | | Upon subsequent retirement, the participant shall be | 18 | | entitled
to a retirement
annuity consisting of: (1) the amount | 19 | | of retirement annuity previously
granted and terminated by | 20 | | re-entry into service; and (2) the
amount of additional | 21 | | retirement annuity earned during the
additional service based | 22 | | on the provisions in effect at the date of such subsequent
| 23 | | retirement. However, the total retirement annuity shall not
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| 1 | | exceed the maximum retirement annuity applicable
at the date of | 2 | | the participant's last
retirement. If the salary
of the | 3 | | participant following the latest re-entry
into service is | 4 | | higher than
that in effect at the date of the previous | 5 | | retirement and the
participant
restores to the system all | 6 | | amounts previously received as
retirement annuity payments, | 7 | | upon subsequent
retirement, the retirement annuity shall be | 8 | | recalculated
for all service credited under the system as | 9 | | though the participant
had not previously retired.
| 10 | | The repayment of retirement annuity payments
must be made | 11 | | by
the participant in a single sum or by a withholding from
| 12 | | salary
within a period of 6 years from date of re-entry and in | 13 | | any event before
subsequent retirement. If previous annuity | 14 | | payments have not been repaid
to the system at the date of | 15 | | death of the participant,
any remaining
balance must be fully | 16 | | repaid to the system before any further annuity
shall be | 17 | | payable.
| 18 | | Such member, if unmarried at date of his last retirement, | 19 | | shall also
be entitled to a refund of widow's and widower's | 20 | | annuity contributions,
without interest, covering the period | 21 | | from the date of re-entry into
service to the date of last | 22 | | retirement.
| 23 | | Notwithstanding any other provision of this Article, if a | 24 | | person who first becomes a participant under this System on or | 25 | | after January 1, 2011 (the effective date of Public Act 96-889) | 26 | | is receiving a retirement annuity under this Article and |
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| 1 | | becomes a member or participant under this Article or any other | 2 | | Article of this Code and is employed on a full-time basis, then | 3 | | the person's retirement annuity under this System shall be | 4 | | suspended during that employment. Upon termination of that | 5 | | employment, the person's retirement annuity shall resume and, | 6 | | if appropriate, be recalculated under the applicable | 7 | | provisions of this Article. | 8 | | Notwithstanding any other provision of this Article, | 9 | | beginning on the effective date of this amendatory Act of the | 10 | | 97th General Assembly, if a member is receiving a retirement | 11 | | annuity under this Article and is elected or appointed to a | 12 | | position that is subject to election under the Election Code | 13 | | and if the annual salary the member is to receive in that | 14 | | position exceeds the lowest annual salary paid to a General | 15 | | Assembly member for service in the General Assembly, as | 16 | | calculated on the date of election or appointment, then the | 17 | | member's retirement annuity under this Article shall be | 18 | | suspended during employment in that position. Upon termination | 19 | | of employment in that position, the member's retirement annuity | 20 | | shall resume and, if appropriate, be recalculated under the | 21 | | applicable provisions of this Article. | 22 | | (Source: P.A. 96-889, eff. 1-1-11; 96-1490, eff. 1-1-11.)
| 23 | | Section 99. Effective date. This Act takes effect upon | 24 | | becoming law.
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