(820 ILCS 405/1403)
(from Ch. 48, par. 553)
Financing benefits paid to state employees.
to individuals with respect to whom this State or any of its wholly owned instrumentalities
is the last employer as provided in Section 1502.1 shall be financed by appropriations to the Department of Employment
The State Treasurer shall be liable on his general official bond for
the faithful performance of his duties with regard to such moneys as
may come into his hands by virtue of this Section. Such liability on his
official bond shall exist in addition to the liability upon any separate
bond given by him. All sums recovered for losses sustained by the clearing account
herein described shall be deposited therein.
In lieu of contributions required of other employers under this Act,
the State Treasurer shall transfer to and deposit in the clearing
account an amount equal to 100% of regular benefits, including dependents'
allowances, and 100% of extended benefits, including dependents' allowances
paid to an individual, but only if the State: (a) is the last
employer as provided in Section 1502.1 and (b) paid, to the individual
receiving benefits, wages for insured work during his base period. If the
State meets the requirements of (a) but not (b), it shall be required to make
payments in an amount equal to 50% of regular benefits, including
dependents' allowances, and 50% of extended benefits, including dependents'
allowances, paid to an individual.
On and after July 1, 2005, transfers to the clearing account pursuant to this Section shall be made directly from such funds and accounts as the appropriations to the Department authorize, as designated by the Director. On July 1, 2005, or as soon thereafter as may be reasonably practicable, all remaining funds in the State Employees' Unemployment Benefit Fund shall be transferred to the clearing account, and, upon the transfer of those funds, the State Employees' Unemployment Benefit Fund is abolished.
The Director shall ascertain the amount to be so transferred and
deposited by the State Treasurer as soon as practicable after the end of
each calendar quarter. The provisions of paragraphs 4 and 5 of Section
1404B shall be applicable to a determination of the amount to be so
transferred and deposited. Such deposit shall be made by the State
Treasurer at such times and in such manner as the Director may determine
Every department, institution, agency and instrumentality of the
State of Illinois shall make available to the Director such information
with respect to any individual who has performed insured work for it as
the Director may find practicable and necessary for the determination of
such individual's rights under this Act. Each such department,
institution, agency and instrumentality shall file such reports with the
Director as he may by regulation prescribe.
(Source: P.A. 94-233, eff. 7-14-05.)