SB1278 97TH GENERAL ASSEMBLY

LRB097 05069 JDS 45110 b

97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1278

Introduced 2/8/2011, by Sen. Don Harmon

SYNOPSIS AS INTRODUCED:

40 ILCS 5/4-115.2 new

Amends the Downstate Firefighters Article of the Illinois Pension Code. Provides that any benefit to be received by or paid to a dependent beneficiary may be received by or paid to a trust established for such dependent beneficiary if the dependent beneficiary is living at the time such benefit would be received by or paid to such trust. Effective immediately.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

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 adding Section 4-115.2 as follows:

(40 ILCS 5/4-115.2 new)

Sec. 4-115.2. Dependent beneficiaries; payment to trust. Any benefit to be received by or paid to a dependent beneficiary may be received by or paid to a trust established for such dependent beneficiary if the dependent beneficiary is living at the time such benefit would be received by or paid to such trust.

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