PEN CD-IMRF-EARLY RETIREMENT

Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. In a provision authorizing a participating employer to create an early retirement incentive program if the participating employer adopts a specified resolution or ordinance, provides that the resolution or ordinance must contain language specifying that a person who retires under the early retirement incentive program shall lose those incentives if he or she later accepts employment with or enters into a personal services contract with any IMRF employer (instead of any IMRF employer in a position for which participation in IMRF is required or is elected by the employee). Effective immediately.