PEN CD-OFFSETS-CONTINUATION House SponsorsRep. Jack D. Franks-Ron Sandack-Kelly M. Cassidy 12/3/2014HouseSession Sine Die 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. 11/14/2013HouseFiled with the Clerk by Rep. Jack D. Franks 11/18/2013HouseAdded Chief Co-Sponsor Rep. Ron Sandack 12/3/2013HouseFirst Reading 12/3/2013HouseReferred to Rules Committee 1/3/2014HouseAdded Chief Co-Sponsor Rep. Kelly M. Cassidy 12/3/2014HouseSession Sine Die