Bill Text: IL HB3760 | 2013-2014 | 98th General Assembly | Introduced

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Bill Title: Amends the Illinois Pension Code. Provides that a member or participant of a retirement system or pension fund established under the Code who is receiving a retirement annuity or retirement pension under the Code and becomes employed on or after the effective date of the amendatory Act in a position in which he or she is eligible to accrue service credit or creditable service under any Article of the Code shall, in the month immediately after commencing that employment, have the amount of his or her monthly retirement annuity or retirement pension offset by the amount of his or her compensation, earnings, or salary (whichever is applicable) in the immediately preceding month as certified to the applicable retirement system or pension fund by his or her employer, unless the payment of that retirement annuity or pension is already suspended or terminated under the Code during that period. Exempts the first $2,000 per month of retirement annuity payments. Provides that if during the course of a member's or participant's employment that member's or participant's retirement annuity or retirement pension under the Code fully vests, then that member or participant may maintain his or her employment in that position without contributing to any retirement annuity fund or any retirement pension fund under the Code. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Failed) 2014-12-03 - Session Sine Die [HB3760 Detail]

Download: Illinois-2013-HB3760-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB3760 Introduced , by Rep. Jack D. Franks SYNOPSIS AS INTRODUCED:
40 ILCS 5/1-167 new
Amends the Illinois Pension Code. Provides that a member or participant of a retirement system or pension fund established under the Code who is receiving a retirement annuity or retirement pension under the Code and becomes employed on or after the effective date of the amendatory Act in a position in which he or she is eligible to accrue service credit or creditable service under any Article of the Code shall, in the month immediately after commencing that employment, have the amount of his or her monthly retirement annuity or retirement pension offset by the amount of his or her compensation, earnings, or salary (whichever is applicable) in the immediately preceding month as certified to the applicable retirement system or pension fund by his or her employer, unless the payment of that retirement annuity or pension is already suspended or terminated under the Code during that period. Exempts the first $2,000 per month of retirement annuity payments. Provides that if during the course of a member's or participant's employment that member's or participant's retirement annuity or retirement pension under the Code fully vests, then that member or participant may maintain his or her employment in that position without contributing to any retirement annuity fund or any retirement pension fund under the Code. Effective immediately.
LRB098 13073 RPM 49594 b
FISCAL NOTE ACT MAY APPLY PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB3760 LRB098 13073 RPM 49594 b
AN ACT concerning public employee benefits, which may also
be referred to as The Retirement Means Retirement Act.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Pension Code is amended by adding
Section 1-167 as follows:
(40 ILCS 5/1-167 new)
Sec. 1-167. Return to employment offset; continuation of
employment after fully vesting.
(a) Notwithstanding any other provision of this Code, a
member or participant of a retirement system or pension fund
established under this Code who is receiving a retirement
annuity or retirement pension under this Code and becomes
employed on or after the effective date of this amendatory Act
of the 98th General Assembly in a position in which he or she
is eligible to accrue service credit or creditable service
under any Article of this Code shall, in the month immediately
after commencing that employment, have the amount of his or her
monthly retirement annuity or retirement pension offset by the
amount of his or her compensation, earnings, or salary
(whichever is applicable) in the immediately preceding month as
certified to the applicable retirement system or pension fund
by his or her employer, unless the payment of that retirement

HB3760 - 2 - LRB098 13073 RPM 49594 b
annuity or retirement pension is already suspended or
terminated under this Code during that period. However, this
subsection (a) shall not apply to the first $2,000 per month of
retirement annuity payments for a member or participant of a
retirement system established under this Code.
(b) Notwithstanding any other provision of this Code, if
during the course of a member's or participant's employment
that member's or participant's retirement annuity or
retirement pension under this Code fully vests, then that
member or participant may maintain his or her employment in
that position without contributing to any retirement annuity
fund or any retirement pension fund under this Code.
Section 99. Effective date. This Act takes effect upon
becoming law.