Illinois General Assembly - Illinois Compiled Statutes

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760 ILCS 40/1

(760 ILCS 40/1) (from Ch. 48, par. 39t)

Sec. 1.

A trust created as a part of a plan for the benefit of some or all
of the employees of one or more employers, including, but without
limitation, a stock bonus, pension, disability, death benefit, profit
sharing, unemployment benefit or other plan, for the purpose of
distributing for the benefit of the employees, including their
beneficiaries, the earnings or the principal, or both earnings and
principal, of the fund held in trust, may continue in perpetuity or for
such time as may be necessary to accomplish the purpose for which it is
created, and shall not be invalid as violating any rule of law against
perpetuities or suspension of the power of alienation of the title to
property.

(Source: P.A. 103-154, eff. 6-30-23.)