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| | SB1264 Engrossed | | LRB101 07891 LNS 52946 b |
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| 1 | | AN ACT concerning civil law.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Revised Uniform Unclaimed Property Act is |
| 5 | | amended by adding Section 15-1505 as follows:
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| 6 | | (765 ILCS 1026/15-1505 new) |
| 7 | | Sec. 15-1505. Application. |
| 8 | | (a) Except as provided in this Section, this Act does not |
| 9 | | apply to any annuity, pension, or benefit funds held in a |
| 10 | | fiduciary capacity by or on behalf of a retirement system |
| 11 | | created pursuant to Article 2, 7, 14, 15, 16, 17, or 18 of the |
| 12 | | Illinois Pension Code. |
| 13 | | (b) Beginning on the effective date of this amendatory Act |
| 14 | | of the 101st General Assembly, property presumed abandoned in |
| 15 | | an annuity, pension, or benefit fund held in a fiduciary |
| 16 | | capacity by or on behalf of a retirement system created |
| 17 | | pursuant to Article 2, 7, 14, 15, 16, 17, or 18 of the Illinois |
| 18 | | Pension Code shall be reported by the retirement system to the |
| 19 | | administrator within the time in subsection (a) of Section |
| 20 | | 15-403 by providing: (i) the name; (ii) the last known address, |
| 21 | | if known; (iii) the Social Security number or taxpayer |
| 22 | | identification number, if known or readily ascertainable; and |
| 23 | | (iv) the dollar amount. |