HB5417enr 96TH GENERAL ASSEMBLY

HB5417 Enrolled LRB096 16302 AMC 31560 b

AN ACT concerning 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 3-142 as follows:

(40 ILCS 5/3-142) (from Ch. 108 1/2, par. 3-142)

Sec. 3-142. Payment of benefits - funds insufficient. Any police officer and any eligible surviving spouse, child or children, or dependent parent of the officer to whom the board has ordered benefits to be paid, shall receive a yearly benefit payable in 12 equal monthly installments, which shall be the aggregate amount to which they are entitled.

If at any time there is not sufficient money in the fund to pay the benefits under this Article the city council or board of trustees of the municipality shall make every legal effort to replenish the fund so that all beneficiaries may receive the amounts to which they are entitled. If, thereafter, there still remain insufficient funds, the beneficiaries shall be paid pro rata from the available funds, but no allowance or order of the board shall be held to create any liability against the municipality, but only against the pension fund.

(Source: P.A. 83-1440.)

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