Bill Title: Amends the State Universities Article of the Illinois Pension Code. Provides that if an employer notifies the State Universities Retirement System that it has employed an annuitant for more than 100 paid days or 500 paid hours in a school year, then the System shall certify to the employer the current value of the annual retirement annuity of that annuitant. Provides that if an employer receives such a certification, then the employer shall pay the certified amount to the System within one year after receiving the certification. Amends the University of Illinois Act, Southern Illinois University Management Act, Chicago State University Law, Eastern Illinois University Law, Governors State University Law, Illinois State University Law, Northeastern Illinois University Law, Northern Illinois University Law, Western Illinois University Law, and Public Community College Act to make conforming changes. Effective July 1, 2012.

Sponsorship: Partisan Bill (Democrat 3)

Status: (Passed) 2012-08-16 - Public Act . . . . . . . . . 97-0968 [HB4996 Detail]

Text: Latest bill text (Chaptered) [HTML]

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