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91_HB1599
LRB9104331EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 17-123.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 17-123 as follows:
7 (40 ILCS 5/17-123) (from Ch. 108 1/2, par. 17-123)
8 Sec. 17-123. Death benefits - Death in service. If a
9 teacher dies (a) in service, (b) after resignation or (c)
10 after retirement but before receiving any pension payment,
11 his or her estate shall be paid a refund of the amounts he or
12 she contributed to the Fund less (1) any former refund that
13 has not been repaid, (2) the amount contributed for a
14 survivor's pension in the event such pension is payable under
15 Sections 17-121 and 17-122 121 and 122 of this Article and
16 (3) pension payments received; but if a written direction,
17 signed by the contributor before an officer authorized to
18 take acknowledgments and stating that the refund shall be
19 paid to named beneficiaries, was filed with the Board prior
20 to his or her death, the refund shall be paid to such named
21 beneficiaries. If any of several named beneficiaries does not
22 survive the contributor and no directive was furnished by the
23 member to cover this contingency, the deceased beneficiary's
24 share of the refund shall be paid to the estate of the
25 contributor.
26 In addition to the payment provided in the foregoing
27 paragraph, if such teacher has received service credit within
28 13 calendar months of the date of death or was on a sick
29 leave authorized by the Employer at the time of death, and if
30 no other pensions or benefits were payable under the
31 provisions of this Article or any other participating system,
-2- LRB9104331EGfg
1 as defined in the Illinois Retirement Systems Reciprocal Act,
2 except a refund of contributions or a survivor's pension,
3 there shall be paid a single payment death benefit. For a
4 teacher who dies on or after the effective date of this
5 amendatory Act of 1991, this benefit shall be equal to the
6 last month's base rate of salary, subject to the limitations
7 and conditions set forth in this Article, for each year of
8 validated service, not to exceed 6 times such salary, or
9 $10,000, whichever is less. The single payment death benefit
10 shall be paid in the manner prescribed for a refund of
11 contributions to the Fund.
12 Death benefits shall be paid only on written application
13 to the Board.
14 (Source: P.A. 90-566, eff. 1-2-98; revised 3-2-98.)
15 Section 99. Effective date. This Act takes effect upon
16 becoming law.