IL HB6021

Allows annuitants who retired before June 1, 2011 and took refunds of survivor credits to re-establish surviving spouse annuity rights by repaying the refund plus interest within one year of the effective date, if they became or remained in a legally recognized marriage or civil union on or after June 1, 2011 or February 26, 2014.

Permits annuitants to repay refunds through lump sum payment or monthly installments over up to 24 months by reducing their monthly benefit, with tax-deferred treatment where permitted under federal law.

Extends similar repayment and reinstatement rights to annuitants in the teachers' retirement system (Article 15) and the municipal employees' retirement system (Article 16) who elected to take refunds of survivor insurance contributions.

If an annuitant fails to complete repayment within the required period, any payments made are returned without interest and survivor insurance benefits are forfeited.

Applies retroactively to annuitants whose deaths occur on or after the effective date, regardless of when they initially retired or entered service.