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HB5417 Engrossed |
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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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