Governor Quinn signed Public Act 97-0968 (HB4996) on August 16, 2012, which limits circumstances under which public universities may re-employ their retirees. Effective in August 2013, this act sets financial conditions on the University for SURS retirees who are employed for more than 18 weeks and earn more than 40 percent of their highest annual rate of earnings earned prior to retirement.
For more information, please see SURS pending legislation website at http://surs.org/shepherd.surs?flk=Bills&shp=62 and scroll down to the summary for HB4996.
University of Illinois human resource policies and procedures are currently under review to determine what changes should be made in order to comply with this new law. Information will be forthcoming to your Deans and college/unit/department HR contacts when more details are available.
For the full text of this Act and other legislative initiatives you can visit the General Assembly website at www.ilga.gov.