MADIGAN,MJ. 40 ILCS 5/1-116 from Ch. 108 1/2, par. 1-116 40 ILCS 5/1-120 new Amends the General Provisions Article of the Pension Code. Provides that all pension funds and retirement systems established under the Code must comply with the contribution and benefit limitations imposed by Section 415 of the U.S. Internal Revenue Code of 1986 on tax-qualified plans. Provides that benefits payable to a minor or person under legal disability may be paid by the retirement system to a trust established for the sole benefit of that person. Effective immediately. PENSION NOTE (Pension Laws Commission) HB 4186 would not affect the accrued liabilities or annual costs of any public pension fund or retirement system in Illinois. 00-02-03 H FILED WITH CLERK 00-02-03 H FIRST READING 00-02-03 H REFERRED TO HOUSE RULES COMMITTEE RULES 00-02-10 H PENSION NOTE FILED 00-02-10 H COMMITTEE RULES 01-01-09 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary