SB1933 94TH GENERAL ASSEMBLY

LRB094 10790 EFG 41252 b

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.

FISCAL NOTE ACT MAY APPLY

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT in relation to public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by changing Section 16-189.1 as follows:

(40 ILCS 5/16-189.1) (from Ch. 108 1/2, par. 16-189.1)

Sec. 16-189.1. Payment of benefits payable monthly. Retirement annuities and other benefits, unless otherwise specified in this Article, shall be paid in 12 monthly installments on a schedule of payments determined by the Office of the Comptroller as of the first day of each month and shall cover the preceding month or proportionate part thereof then due. Provided, however, upon the death of a member in receipt of a benefit, an annuitant or a beneficiary, benefits shall be paid through the last day of the month in which death occurs.

(Source: P.A. 84-1028.)

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