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96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB5417
Introduced 2/5/2010, by Rep. Kevin A. McCarthy SYNOPSIS AS INTRODUCED:
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40 ILCS 5/3-142 |
from Ch. 108 1/2, par. 3-142 |
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Amends the Downstate Police Article of the Illinois Pension Code. Removes language that provides that beneficiaries shall be paid pro rata from the
available funds if there is not sufficient money
in the fund to pay the
benefits under the Article. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY |
PENSION IMPACT NOTE ACT MAY APPLY |
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT |
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A BILL FOR
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HB5417 |
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LRB096 16302 AMC 31560 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing |
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| Section 3-142 as follows:
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| (40 ILCS 5/3-142) (from Ch. 108 1/2, par. 3-142)
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| Sec. 3-142. Payment of benefits - funds insufficient. Any |
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| police officer and any eligible surviving spouse, child or |
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| children,
or dependent parent
of the officer to whom the
board |
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| has ordered benefits to be paid, shall receive a yearly benefit
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| payable in 12 equal monthly installments, which shall be the |
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| aggregate
amount to which they are entitled.
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| If at any time there is not sufficient money
in the fund to |
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| pay the
benefits under this Article
the city council or board |
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| of
trustees of the municipality shall make every legal effort |
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| to
replenish the fund so that all beneficiaries may receive the |
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| amounts to
which they are entitled. If, thereafter,
there still |
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| remain insufficient funds,
the beneficiaries shall be paid pro |
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| rata from the
available funds, but no allowance or order of the |
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| board shall be held to
create any liability against the |
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| municipality, but only against the
pension fund.
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| (Source: P.A. 83-1440.)
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