“It is possible under the current law under the current pension code for an employee of the university system … to effectively offload a substantial portion of their compensation from the university to the pension system by kind of artificially retiring and returning to work,” [Evanston state representative Daniel] Biss said. “It [HB 4996] attempts to curb some of the more inexcusable instances of this practice.”Under the proposed legislation, a faculty member teaching one course per academic year, or one conducting sponsored research, is not engaging in an inexcusable instance.
CURTAILING DOUBLE DIPPING.
It's not uncommon for professors to take their pensions and return to the classroom on a part-time basis. Probably Pareto-improving, too: the former faculty members do not have to serve on committees, and the university does not have to pay as much in salary in benefits. Those professors continue to draw pensions, and one legislator wants to curtail the universities shifting payroll costs to the inadequately funded retirement system.