92nd General Assembly
Summary of SB1659
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Senate Sponsors:

Short description: 
PEN CD-QILDRO-CALCULATION                                                  

Synopsis of Bill as introduced:
        Amends the Illinois Pension Code.  Provides  that  a  QILDRO  may      
   specify  a  percentage  of  the member's benefit or apply a formula to      
   determine the amount  of  the  member's  benefit  to  be  paid  to  an      
   alternate  payee.  Provides that, if so specified, a QILDRO shall take      
   effect at a date other than at the time the benefit  becomes  payable.      
   Provides  that an alternate payee may not consent to a form of payment      
   that has the effect of diminishing the amount of the payment to  which      
   he  or  she  is  entitled  unless  the  written  consent is notarized.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          SB 1659 would not increase the accrued liabilities or annual         
          cost of any public pension fund or retirement system in              
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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