Sec. 1. A trust created as a part of a plan for the benefit of some or all of the employees of one or more employers, including, but without limitation, a stock bonus,.
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/il/chapter-760/act-40/1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1. A trust created as a part of a plan for the benefit of some or all of the employees of one or more employers, including, but without limitation, a stock bonus, pension, disability, death benefit, profit sharing, unemployment benefit or other plan, for the purpose of distributing for the benefit of the employees, including their beneficiaries, the earnings or the principal, or both earnings and principal, of the fund held in trust, may continue in perpetuity or for such time as may be necessary to accomplish the purpose for which it is created, and shall not be invalid as violating any rule of law against perpetuities or suspension of the power of alienation of the title to property.