HB 4323 amends the State Universities Retirement System’s article of the Illinois Pension Code to clarify the intent of the General Assembly regarding a SURS trustee’s change in status.
The SURS Board of Trustees consists of six elected trustees (four from participating employees and two from annuitants) and five appointed trustees. SURS’ statute does not clearly indicate what happens when a trustee experiences a change in status (for example, a participating employee retires or an annuitant returns to work as a participating employee). As a result, SURS requested an opinion from the Attorney General’s Office on the subject. In response to SURS’ request, the Attorney General’s Office indicated that the statute is “ambiguous” and recommended that “SURS pursue legislation to clarify the General Assembly’s intent.” HB 4323 seeks to establish the intent of the General Assembly regarding a SURS trustee’s change in status. It also makes a technical change in terms from “active participant” to “participating employee,” consistent with statute.
HB 4323 is identical to SB 2545 of the 101st General Assembly.
HB 4323 takes effect immediately upon becoming law.