IL HB3969

Adds Section 1-166 to the Illinois Pension Code establishing a "proportional annuity liability" mechanism for participants who work in multiple retirement systems under the Retirement Systems Reciprocal Act.

Requires employers of non-General Assembly retirement systems to reimburse the General Assembly Retirement System for increased annuity costs when a participant's final average salary from another system exceeds their General Assembly salary and they retire with less than 2 years of service in the other system after rejoining.

Defines "final average salary" across multiple retirement system articles and establishes that reimbursement amounts be determined by the General Assembly Retirement System using actuarial tables and assumptions.

Grants the General Assembly Retirement System authority to certify delinquent employer payments to the State Comptroller for deduction from state funds, or to pursue collection through circuit court if state funds are unavailable.

Modifies Section 2-108.1 regarding "highest salary for annuity purposes" to allow pre-1994 General Assembly Retirement System members to irrevocably elect whether earnings limitations from other participating systems apply to their proportional annuity calculations.