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91_HB0350
LRB9100808EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 17-124.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 17-124 as follows:
7 (40 ILCS 5/17-124) (from Ch. 108 1/2, par. 17-124)
8 Sec. 17-124. Death Benefits - Death on pension. On
9 written application to the Board, there shall be paid to the
10 estate of a deceased teacher-pensioner a refund of the
11 amounts he contributed to the Fund, less (1) any former
12 refund that has not been repaid, (2) the amount contributed
13 for a survivor's pension if such a pension is payable under
14 Sections 17-121 and 17-122, and (3) pension payments
15 received; pension payments, accrued, temporarily withheld or
16 represented by checks uncashed at the date of his death and
17 the excess, if any, of an amount equal to his refundable
18 contributions for service or disability retirement pension
19 over pension to the date of death; provided, that if there be
20 filed with the Board prior to the death of the pensioner his
21 written direction, signed and acknowledged before an officer
22 authorized to take acknowledgments, that such payments be
23 paid to designated beneficiaries, they shall be so paid on
24 written application therefor to the Board. If none of
25 several named beneficiaries survives the pensioner and no
26 directive was furnished by the member to cover this
27 contingency, the deceased beneficiary's share shall be paid
28 to the estate of the pensioner.
29 If a reversionary pension is payable upon death of a
30 pensioner, the determination and payment of any refund of
31 contributions payable under this Section shall be made upon
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1 death of the reversionary pensioner. At such time a refund of
2 contributions less (1) the amount contributed for annual
3 increases in pension and (2) total pension payments to the
4 teacher-pensioner and survivor shall be paid in the manner
5 provided in this Section to the designated beneficiaries, or
6 estate of the deceased survivor.
7 If a pension is payable to a surviving spouse and/or
8 minor children upon death of a pensioner, the determination
9 of any refund of contributions payable under this Section
10 shall be made upon death of the survivor and marriage or
11 attainment of age 18 of minor children. At that time a refund
12 of contributions for retirement and survivors' and children's
13 pensions less total pension payments to teacher-pensioner,
14 survivor and minor children shall be paid in the manner
15 provided in this Section to the designated beneficiaries, or
16 estate of the deceased survivor.
17 If eligible beneficiaries for survivors' or children's
18 benefits existed at the time of a pensioner's retirement but
19 not on the date of his death thereafter, the excess of total
20 contributions for retirement and survivors' and children's
21 pensions over pensions paid shall be determined upon death of
22 the pensioner and paid in the manner provided in this Section
23 to the designated beneficiaries, or estate of the deceased
24 teacher-pensioner.
25 Reversionary or survivor's pension payments accrued,
26 temporarily withheld, or represented by uncashed checks to
27 the date of death shall be paid to the reversionary
28 pensioner's or survivor's designated beneficiaries, or estate
29 in the manner provided in this Section.
30 On death of a retired teacher whose death occurs on or
31 after the effective date of this amendatory Act of 1991,
32 there shall be payable a lump sum death benefit equal to 6
33 times the teacher's salary rate for his last month of service
34 or $10,000, whichever is less, upon death during the first
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1 year on pension minus 1/5 of the death benefit, as defined
2 herein, for each year or fraction thereof on pension after
3 the first full year, to a minimum of $5,000.
4 Notwithstanding Section 17-157, the changes made in this
5 Section and Section 17-123 by this amendatory Act of 1991
6 shall apply to teachers dying on or after the effective date
7 of this amendatory Act of 1991 without regard to whether
8 service terminated prior to that date.
9 (Source: P.A. 90-566, eff. 1-2-98.)
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.