PEN CD-TRS-GAINFUL EMPLOYMENT

Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that "gainful employment" means employment from which a member realizes earned income, as that term is defined in a provision of the Internal Revenue Code, in excess of $20,000 in any calendar year, unreduced by contributions to a tax-deferred retirement plan account authorized by the Internal Revenue Code, or the pro rata share of $20,000 if less than a calendar year, while in receipt of a disability or occupational disability benefit. Provides that the $20,000 referred to in the definition of "gainful employment" shall be increased on each January 1 by the annual unadjusted percentage increase (but not less than zero) in the consumer price index-u. Effective immediately.