HB4572

Illinois HB4572 amends the Illinois Pension Code to suspend annuities for annuitants who return to work.

Illinois HB4572 amends the Illinois Pension Code to suspend annuities for annuitants who return to work with participating employers. The Illinois Municipal Retirement Fund must notify annuitants annually of the limitations on returning to work. Annuities are suspended for those returning to work for less than 48 months, with supplemental annuities computed based on service during that period. The Fund must notify all annuitants to report any return to work. The State Mandates Act is amended to require implementation without reimbursement.