94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB1933

 

Introduced 2/25/2005, by Sen. Deanna Demuzio

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/16-189.1   from Ch. 108 1/2, par. 16-189.1

    Amends the Downstate Teachers Article of the Illinois Pension Code. Provides that benefits shall be paid in 12 monthly installments on a schedule of payments determined by the Office of the Comptroller rather than in 12 monthly installments as of the first day of each month. Effective immediately.


LRB094 10790 EFG 41252 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1933 LRB094 10790 EFG 41252 b

1     AN ACT in relation to public employee benefits.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Pension Code is amended by changing
5 Section 16-189.1 as follows:
 
6     (40 ILCS 5/16-189.1)  (from Ch. 108 1/2, par. 16-189.1)
7     Sec. 16-189.1. Payment of benefits payable monthly.
8 Retirement annuities and other benefits, unless otherwise
9 specified in this Article, shall be paid in 12 monthly
10 installments on a schedule of payments determined by the Office
11 of the Comptroller as of the first day of each month and shall
12 cover the preceding month or proportionate part thereof then
13 due. Provided, however, upon the death of a member in receipt
14 of a benefit, an annuitant or a beneficiary, benefits shall be
15 paid through the last day of the month in which death occurs.
16 (Source: P.A. 84-1028.)
 
17     Section 99. Effective date. This Act takes effect upon
18 becoming law.