(40 ILCS 5/15-139)
(from Ch. 108 1/2, par. 15-139)
Retirement annuities; cancellation; suspended during
(a) If an annuitant returns to employment for an employer
within 60 days after the beginning of the retirement annuity payment
period, the retirement annuity shall be cancelled, and the annuitant shall
refund to the System the total amount of the retirement annuity payments
which he or she received. If the retirement annuity is cancelled, the
participant shall continue to participate in the System.
(b) If an annuitant retires prior to age 60 and receives or becomes
entitled to receive during any month compensation in excess of the monthly
retirement annuity (including any automatic annual increases) for services
performed after the date of retirement for any employer under this System, that
portion of the monthly
retirement annuity provided by employer contributions shall not be payable.
If an annuitant retires at age 60 or over and receives
or becomes entitled to receive during any academic year compensation in
excess of the difference between his or her highest annual earnings prior
to retirement and his or her annual retirement annuity computed under Rule
1, Rule 2, Rule 3, Rule 4, or Rule 5 of Section 15-136, or under Section
for services performed after
the date of retirement for any employer under this System, that portion of
the monthly retirement annuity provided by employer contributions shall be
reduced by an amount equal to the compensation that exceeds such difference.
However, any remuneration received for serving as a member of the
Illinois Educational Labor Relations Board shall be excluded from
"compensation" for the purposes of this subsection (b), and serving as a
member of the Illinois Educational Labor Relations Board shall not be
deemed to be a return to employment for the purposes of this Section.
This provision applies without regard to whether service was terminated
prior to the effective date of this amendatory Act of 1991.
(c) If an employer certifies that an annuitant has been reemployed
on a permanent and continuous basis or in a position
in which the annuitant is expected to serve for at least 9 months, the
annuitant shall resume his or her status as a participating employee
and shall be entitled to all rights applicable to
participating employees upon filing with the board an
election to forgo all annuity payments during the period
of reemployment. Upon subsequent retirement, the retirement
annuity shall consist of the annuity which was terminated by the reemployment,
plus the additional retirement annuity based upon service
granted during the period of reemployment, but the combined retirement
annuity shall not exceed the maximum
annuity applicable on the date of the last retirement.
The total service and earnings credited before and after the initial
date of retirement shall be considered in determining eligibility of the
employee or the employee's beneficiary to benefits under this
Article, and in calculating final rate of earnings.
In determining the death benefit
payable to a beneficiary of an annuitant who again becomes a participating
employee under this Section, accumulated normal and additional
contributions shall be considered as the sum of the accumulated normal and
additional contributions at the date of initial retirement and the
accumulated normal and additional contributions credited after that date,
less the sum of the annuity payments received by the annuitant.
The survivors insurance benefits provided under Section 15-145 shall not
be applicable to an annuitant who resumes his or her status as a
participating employee, unless the annuitant, at the time of initial
retirement, has a survivors insurance beneficiary who could qualify
for such benefits.
If the participant's employment is terminated because of circumstances
other than death before 9 months from the date of reemployment, the
provisions of this Section regarding resumption of status as a
participating employee shall not apply. The normal and survivors insurance
contributions which are deducted during this period shall be refunded to
the annuitant without interest, and subsequent benefits under this Article
shall be the same as those which were applicable prior to the date the
annuitant resumed employment.
The amendments made to this Section by this amendatory Act of the 91st
General Assembly apply without regard to whether the annuitant was in service
on or after the effective date of this amendatory Act.
(Source: P.A. 97-933, eff. 8-10-12; 97-968, eff. 8-16-12.)