Synopsis As Introduced Amends the General Provisions Article of 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 and becomes employed in a similar position within the same agency 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 retirement pension is already suspended or terminated during that period. Provides that these provisions do not apply to the first $2,000 per month of retirement annuity payments. Contains a statement of legislative intent. Effective immediately.
Replaces everything after the enacting clause. Amends the Downstate Police, Downstate Firefighter, Chicago Police, and Chicago Firefighter Articles of the Illinois Pension Code. Provides that if a person who first entered service after January 1, 2017 is receiving pension payments and becomes a member or participant under any other system or fund and is employed on a full-time basis, he or she shall immediately notify the pension fund that is making those pension payments of his or her participation or membership under a system or fund created by the Code and the pension payments shall be suspended while the person is employed full-time. Provides that the suspension shall end upon termination of that full-time employment. Effective immediately.