Illinois HB1648 amends the Illinois Pension Code to allow annuitants or disability beneficiaries to direct monthly payments to affiliated.
Illinois HB1648 modifies the Illinois Pension Code, specifically the Downstate Firefighter Article, to prohibit the transfer or assignment of pension, annuity, refund, or disability benefits by mortgage or otherwise. However, it allows an annuitant or disability beneficiary to direct, in writing, that a monthly payment be made to an association or organization affiliated with the beneficiary due to their fire service or for hospitalization insurance purposes. This change ensures that pension funds remain secure and are distributed solely for pensioning purposes.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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