§ 5/12-804 Exemptions from deduction orders

Codes > Illinois Compiled Statutes > Chapter 735 > Act 5 : Article XII > Part 8 : 5/12-804 Exemptions

12-804. Exemptions from deduction orders.

    Benefits and refunds payable by pension or retirement funds or systems and any assets of employees held by such funds or systems, and any monies an employee is required to contribute to such funds or systems are exempt and are not subject to a deduction order under Part 8 of Article XII of this Act. A plan governed by the Employee Retirement Income Security Act of 1974 [FN1] shall be considered a retirement fund for purposes of this Part 8.

    [FN1] 29 U.S.C.A. § 1001 et seq.