IL HB2968

Amends Illinois Pension Code Section 17-149 regarding cancellation of pensions for retired teachers who return to work as teachers.

For school years beginning July 1, 2019 or later, service retirement pensions are not cancelled if a retired teacher works on a temporary and non-annual or hourly basis, provided they work no more than 120 days per school year or earn no more than $30,000 in gross compensation (or the daily rate for retired principals multiplied by 100 for those with at least 5 years of principal service).

Retired teachers teaching only driver education courses after regular school hours are exempt from the 120-day limit but are subject to a 900-hour annual limit and the $30,000 compensation cap.

Requires retired teachers to notify the Fund and Board of Education before accepting re-employment under these provisions, and requires employers to certify pensioner status and compensation to the Fund at least quarterly.

Pension cancellation occurs if a pensioner exceeds the work day or compensation limits in any applicable school year.