IL HB4588 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 5 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that "gainful employment" means employment from which a member realizes earned income, as that term is defined in a provision of the Internal Revenue Code, in excess of $20,000 in any calendar year, unreduced by contributions to a tax-deferred retirement plan account authorized by the Internal Revenue Code, or the pro rata share of $20,000 if less than a calendar year, while in receipt of a disability or occupational disability benefit. Provides that the $20,000 referred to in the definition of "gainful employment" shall be increased on each January 1 by the annual unadjusted percentage increase (but not less than zero) in the consumer price index-u. Effective immediately.

Tracking Information

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Title

PEN CD-TRS-GAINFUL EMPLOYMENT

Sponsors


History

DateChamberAction
2020-06-23HouseRule 19(b) / Re-referred to Rules Committee
2020-03-12HouseAssigned to Personnel & Pensions Committee
2020-02-05HouseReferred to Rules Committee
2020-02-05HouseFirst Reading
2020-02-05HouseFiled with the Clerk by Rep. Margo McDermed

Code Citations

ChapterArticleSectionCitation TypeStatute Text
40516-121.5New CodeSee Bill Text

Illinois State Sources


Bill Comments

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