Bill > HB3194

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 legal 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 about the benefits payable upon a participant's or annuitant's death, rather than the previous standard 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 to the section heading, adding the word "benefits" after "survivors insurance". Additionally, the legislation maintains existing provisions that allow for multiple survivors benefits in certain circumstances, such as when a beneficiary is entitled to benefits due to a mental or physical disability, and ensures that if a person is eligible for multiple survivors benefits from different sources, they will receive only the largest benefit amount.

Labor and Employment

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3194&GAID=18&DocTypeID=HB&SessionID=114&GA=104