Illinois § 11-126 Prior service annuity-When due

Illinois Statutes

§ 11-126 — Prior service annuity-When due

Illinois § 11-126

JurisdictionIllinois

TopicGOVERNMENT

Ch. 40PENSIONS

Act 40 ILCS 5/Illinois Pension Code.

Art.Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

This text of Illinois § 11-126 (Prior service annuity-When due) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

40 Ill. Comp. Stat. 11-126 (2026).

Text

A "Prior Service Annuity" shall be credited to present employees in accordance with "The 1935 Act" for service rendered prior to the effective date. Each such credit shall be improved by interest at the effective rate during the time the employee is in service until his annuity is fixed. In determining such credit, the employee's annual salary for his entire period of prior service shall be the salary in effect on the effective date.

Free access — add to your briefcase to read the full text and ask questions with AI

A "Prior Service Annuity" shall be credited to present employees in accordance with "The 1935 Act" for service rendered prior to the effective date. Each such credit shall be improved by interest at the effective rate during the time the employee is in service until his annuity is fixed. In determining such credit, the employee's annual salary for his entire period of prior service shall be the salary in effect on the effective date.