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91_SB0158 LRB9102153EGfg 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 of22Illinois, or the Teachers' Retirement System of the State of23Illinois,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, -2- LRB9102153EGfg 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 -3- LRB9102153EGfg 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.