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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB1933
Introduced 2/25/2005, by Sen. Deanna Demuzio SYNOPSIS AS INTRODUCED:
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40 ILCS 5/16-189.1 |
from Ch. 108 1/2, par. 16-189.1 |
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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.
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| FISCAL NOTE ACT MAY APPLY | |
PENSION IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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SB1933 |
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LRB094 10790 EFG 41252 b |
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| AN ACT in relation to public employee benefits.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing |
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| Section 16-189.1 as follows:
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| (40 ILCS 5/16-189.1) (from Ch. 108 1/2, par. 16-189.1)
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| Sec. 16-189.1. Payment of benefits payable monthly. |
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| Retirement
annuities and other benefits, unless otherwise |
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| specified in this Article, shall
be paid in 12 monthly |
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| installments on a schedule of payments determined by
the Office |
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| of the Comptroller
as of the first day of each month and shall
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| cover the preceding month or proportionate part thereof then |
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| due. Provided,
however, upon the death of a member in receipt |
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| of a benefit, an annuitant or a
beneficiary, benefits shall be |
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| paid through the last day of the month in which
death occurs.
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| (Source: P.A. 84-1028.)
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law. |