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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 Articleand 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.
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