SB1374 amends the Illinois Pension Code to modify employer contributions for employing annuitants.

SB1374 amends the Illinois Pension Code to change the employer contribution requirements for employing annuitants. The bill specifies that employers must pay a contribution to the System when employing an affected annuitant. The contribution is equal to the lesser of 12 times the gross monthly retirement annuity or $100,000. The bill also outlines conditions under which the employer is not required to make the contribution, such as when the annuitant is employed in a status appointment position or when the employer employs the annuitant to continue critical operations.

SB1374 amends the Illinois Pension Code to modify employer contributions for employing annuitants.

SB1374 amends the Illinois Pension Code to change the employer contribution requirements for employing annuitants. The bill specifies that employers must pay a contribution to the System when employing an affected annuitant. The contribution is equal to the lesser of 12 times the gross monthly retirement annuity or $100,000. The bill also outlines conditions under which the employer is not required to make the contribution, such as when the annuitant is employed in a status appointment position or when the employer employs the annuitant to continue critical operations.