PEN CD-SERS-SS OFFSET-VETERANS

Amends the State Employee Article of the Illinois Pension Code. Provides that, beginning July 1, 2009, the Social Security offset shall no longer be applied to any widow's or survivor's annuity of any person with military service that is receiving retirement benefits or a widow's annuity or survivor's annuity on the effective date. Provides that, unless a member with military service makes an election to have the Social Security offset apply to his or her widow's or survivors annuity, his or her retirement contribution is increased 0.6%, thus making the total contribution for that purpose 1.1%. Allows a member to change his or her offset status upon the occurrence of a qualifying event. Contains provisions concerning refunds and payment for prior service. Provides that the calculation of the minimum contribution of the State shall not be affected by the changes in the amendatory Act. Specifies the required funding for the new benefit increase; specifies the effects of expiration if the General Assembly fails to extend the new benefit increase. Effective immediately.