PEN CD-GARS-END PARTICIPATION

Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who are receiving annuities from the System on January 1, 2015. Terminates participation by all other persons. Provides that annuities in payment status on January 1, 2015 shall continue to be paid by the System, along with any increases provided by law. Provides that no new or additional benefits may be granted or paid by the System on or after January 1, 2015, including any refund of contributions. Provides that no new transfers of credits into or out of the System shall be made on or after that date. Provides that these provisions control over any other law. Effective January 1, 2015.