HB5417 EnrolledLRB096 16302 AMC 31560 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Section 3-142 as follows:
 
6    (40 ILCS 5/3-142)  (from Ch. 108 1/2, par. 3-142)
7    Sec. 3-142. Payment of benefits - funds insufficient. Any
8police officer and any eligible surviving spouse, child or
9children, or dependent parent of the officer to whom the board
10has ordered benefits to be paid, shall receive a yearly benefit
11payable in 12 equal monthly installments, which shall be the
12aggregate amount to which they are entitled.
13    If at any time there is not sufficient money in the fund to
14pay the benefits under this Article the city council or board
15of trustees of the municipality shall make every legal effort
16to replenish the fund so that all beneficiaries may receive the
17amounts to which they are entitled. If, thereafter, there still
18remain insufficient funds, the beneficiaries shall be paid pro
19rata from the available funds, but no allowance or order of the
20board shall be held to create any liability against the
21municipality, but only against the pension fund.
22(Source: P.A. 83-1440.)
 

 

 

HB5417 Enrolled- 2 -LRB096 16302 AMC 31560 b

1    Section 99. Effective date. This Act takes effect upon
2becoming law.