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SERS webinar covers return-to-work rules, reciprocity and optional COLA buyout
Summary
Presenter reviewed how returning to state employment affects SERS pensions (75-day rule, contractual reemployment, and permanent reemployment), reciprocity among Illinois public retirement systems, and the tier 1 COLA buyout option.
SERS presenter (Staff member, State Employees' Retirement System) explained rules that determine whether a SERS pension continues or is suspended upon returning to state employment, the mechanics of reciprocal retirement systems, and a tier 1 cost-of-living adjustment (COLA) buyout option available to certain retirees.
Why it matters: Returning to work can suspend or end pension payments depending on appointment type and member tier; the COLA buyout option and reciprocity rules materially affect pension amounts and eligibility for future benefits.
The presenter said two return-to-work methods affect pensions differently: a nonpermanent appointment of 75 days or less (counting any part of a day as a…
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