40 ILCS 5/15-139
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 15 - State Universities Retirement System

 (from Ch. 108 1/2, par. 15-139)Sec. 15-139. Retirement annuities; cancellation; suspended during  employment.(a) If an annuitant returns to employment for an employer  within 60 days after the beginning of the retirement annuity payment  period, the retirement annuity shall be cancelled, and the annuitant shall  refund to the System the total amount of the retirement annuity payments  which he or she received. If the retirement annuity is cancelled, the  participant shall continue to participate in the System.(b) If an annuitant retires prior to age 60 and receives or becomes  entitled to receive during any month compensation in excess of the monthly  retirement annuity (including any automatic annual increases) for services  performed after the date of retirement for any employer under this System, that  portion of the monthly  retirement annuity provided by employer contributions shall not be payable.If an annuitant retires at age 60 or over and receives  or becomes entitled to receive during any academic year compensation in  excess of the difference between his or her highest annual earnings prior  to retirement and his or her annual retirement annuity computed under Rule  1, Rule 2, Rule 3, or Rule 4 of Section 15-136, or under Section  15-136.4,  for services performed after  the date of retirement for any employer under this System, that portion of  the monthly retirement annuity provided by employer contributions shall be  reduced by an amount equal to the compensation that exceeds such difference.However, any remuneration received for serving as a member of the  Illinois Educational Labor Relations Board shall be excluded from  "compensation" for the purposes of this subsection (b), and serving as a  member of the Illinois Educational Labor Relations Board shall not be  deemed to be a return to employment for the purposes of this Section.  This provision applies without regard to whether service was terminated  prior to the effective date of this amendatory Act of 1991."Academic year", as used in this subsection (b), means the 12-month period beginning September 1.(c) If an employer certifies that an annuitant has been reemployed  on a permanent and continuous basis or in a position  in which the annuitant is expected to serve for at least 9 months, the  annuitant shall resume his or her status as a participating employee  and shall be entitled to all rights applicable to  participating employees upon filing with the board an  election to forgo all annuity payments during the period  of reemployment. Upon subsequent retirement, the retirement  annuity shall consist of the annuity which was terminated by the reemployment,  plus the additional retirement annuity based upon service  granted during the period of reemployment, but the combined retirement  annuity shall not exceed the maximum  annuity applicable on the date of the last retirement.The total service and earnings credited before and after the initial  date of retirement shall be considered in determining eligibility of the  employee or the employee's beneficiary to benefits under this  Article, and in calculating final rate of earnings.In determining the death benefit  payable to a beneficiary of an annuitant who again becomes a participating  employee under this Section, accumulated normal and additional  contributions shall be considered as the sum of the accumulated normal and  additional contributions at the date of initial retirement and the  accumulated normal and additional contributions credited after that date,  less the sum of the annuity payments received by the annuitant.The survivors insurance benefits provided under Section 15-145 shall not  be applicable to an annuitant who resumes his or her status as a  participating employee, unless the annuitant, at the time of initial  retirement, has a survivors insurance beneficiary who could qualify  for such benefits or the annuitant repaid the survivors insurance contribution refund or additional annuity under subsection (c-5) of Section 15-154.If the participant's employment is terminated because of circumstances  other than death before 9 months from the date of reemployment, the  provisions of this Section regarding resumption of status as a  participating employee shall not apply. The normal and survivors insurance  contributions which are deducted during this period shall be refunded to  the annuitant without interest, and subsequent benefits under this Article  shall be the same as those which were applicable prior to the date the  annuitant resumed employment.The amendments made to this Section by this amendatory Act of the 91st  General Assembly apply without regard to whether the annuitant was in service  on or after the effective date of this amendatory Act.  (Source: P.A. 98-92, eff. 7-16-13; 98-596, eff. 11-19-13; 99-682, eff. 7-29-16.)