HB3193: PEN CD-SURS-EARNINGS

Legislative Summary

Amends the Illinois Pension Code. Makes changes in provisions and sets forth provisions concerning: the cancellation of pensions as a result of re-employment under the Chicago Teachers Article; persons who held elective office under the Illinois Municipal Retirement Fund (IMRF) Article; the transfer of service credit; employer contributions; establishing credit for military service and certain other service; the ordinary disease benefit under the Metropolitan Water Reclamation District (MWRD) Article; the computation of service under the Chicago Teachers Article; indemnification of trustees; the occupational disease benefit under the Chicago Firefighters Article; the election of members to Board of the Firefighters' Pension Investment Fund; the calculation of final rate of earnings and survivors insurance benefits under the State Universities Article; the optional defined contribution benefit under the Downstate Teachers Article; the deferred compensation plan under the State Universities Article; an estimated payment for members eligible to receive an alternative retirement annuity under the State Employees Article; an additional employer contribution for employing affected annuitants under the State Universities Article; and other provisions. Amends the State Mandates Act to requirement implementation without reimbursement. Certain provisions are effective immediately