Bill Title: 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.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
[HB4588 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Introduced | 2020-02-05 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
|---|
| No bill amendments currently on file for Illinois HB4588 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
|---|
| No supplemental documents for Illinois HB4588 currently on file. |
