Bill > SB1894

This bill amends the Illinois Pension Code to modify the provisions for survivors insurance benefits, specifically focusing on the timeline and process for waiving such benefits. Under the updated legislation, a survivors insurance beneficiary (or their personal representative) can waive their right to receive survivorship benefits by providing written notice to the Board of Trustees within 6 months after the System notifies them of the benefits payable upon a participant's or annuitant's death, rather than the previous requirement of 6 months after the death. The waiver must be submitted before any payment is made based on an application. The bill also makes a minor technical change by adding the word "benefits" after "survivors insurance" in the section heading. Additionally, the bill maintains existing provisions that if a person is entitled to survivors insurance benefits from multiple sources, they will receive only the largest benefit, with an exception for beneficiaries who are entitled to a survivor's annuity due to a mental or physical disability. The legislation takes effect immediately upon enactment.

Labor and Employment

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1894&GAID=18&DocTypeID=SB&SessionID=114&GA=104