HB 2029

Abstract

Amends the State Employees Group Insurance Act of 1971. Provides that "survivor" includes a person who would be receiving an annuity as a survivor of an annuitant except that the annuitant elected to receive an accelerated pension benefit payment. Provides that "TRS benefit recipient" includes a person who would be receiving a monthly benefit or retirement annuity under the Downstate Teacher Article of the Illinois Pension Code except that the benefit recipient elected to receive an accelerated pension benefit payment under that Article in lieu of receiving an annuity. Provides that "community college benefit recipient" includes a person who would be receiving a monthly survivor's annuity or retirement annuity under the State Universities Article of the Illinois Pension Code except that the benefit recipient elected to receive an accelerated pension benefit payment under that Article in lieu of receiving an annuity. Effective immediately. Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with the following changes. In the definitions of "survivor", "TRS benefit recipient", and "community college benefit recipient", specifies that the elections to receive an accelerated pension benefit payment under the Illinois Pension Code are elections made on or after June 4, 2018.