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40 ILCS 5/15-185
(40 ILCS 5/15-185) (from Ch. 108 1/2, par. 15-185)
Sec. 15-185.
Annuities, etc., exempt.
The accumulated employee and
employer contributions shall be held in trust for each participant and
annuitant, and this trust shall be treated as a spendthrift trust. Except
as provided in this Article, all cash, securities and other property of
this system, all annuities and other benefits payable under this Article
and all accumulated credits of participants and annuitants in
this system and the right of any person to receive an annuity or other
benefit under this Article, or a refund of contributions, shall not be
subject to judgment, execution, garnishment,
attachment, or other seizure by process, in bankruptcy or otherwise, nor
to sale, pledge, mortgage or other alienation, and shall not be assignable.
The board, however, may deduct from the benefits, refunds and credits
payable to the participant, annuitant or beneficiary, amounts owed by the
participant or annuitant to the system. No attempted sale, transfer or
assignment of any benefit, refund or credit shall prevent the right of the
board to make the deduction and offset authorized in this Section. Any
participant or annuitant may authorize the board to deduct from disability
benefits or annuities, premiums due under any group hospital-surgical insurance
program which is sponsored or approved by any employer; however, the deductions
from disability benefits may not begin prior to 6 months after the disability
occurs.
A person receiving an annuity or benefit under this Article may also
authorize withholding from that annuity or benefit for the purposes
enumerated in and in accordance with the provisions of the State Salary and
Annuity Withholding Act.
This Section is not intended to, and does not, affect the calculation of
any benefit under this Article or dictate how or to what extent employee or
employer contributions are to be taken into account in calculating benefits.
This amendatory Act of the 91st General Assembly is a clarification of
existing law and applies to every participant and annuitant without regard to
whether status as an employee terminates before the effective date of this
amendatory Act.
Public Act 86-273 is a clarification of
existing law and shall be applicable to every participant and annuitant without
regard to whether status as an employee terminates before the effective date of
that Act.
(Source: P.A. 90-65, eff. 7-7-97; 90-448, eff. 8-16-97; 90-511, eff.
8-22-97; 90-655, eff. 7-30-98; 91-887, eff. 7-6-00.)
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