Illinois Statutes
§ 11-203 — Employees' contribution reserve
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants
Amounts deducted from employee's salaries for age and service annuity and widow's annuity, or otherwise contributed by employees, amounts contributed by the city for such annuities for an employee receiving duty disability benefit, and transfers to this reserve from the investment and interest reserve, shall be credited to this reserve. An individual account shall be kept in this reserve for each employee to which such salary deductions and contributions shall be credited. When the annuity for any employee or his widow is fixed or granted, the amount in this reserve for such annuities shall be transferred to the annuity payment reserve. There shall be charged to this reserve amounts refunded, except refunds under Section 11-204.
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Legislative History
(Source: P.A. 81-1536.)
Nearby Sections
15
§ 11-101
Creation of fund§ 11-102
Terms defined§ 11-103
Fund§ 11-104
The 1935 Act§ 11-106
Civil Service Act§ 11-106.1
§ 11-106.1§ 11-107
Employer§ 11-108
Effective date§ 11-109
Retirement board or board§ 11-110.1
Gender§ 11-111
Present employee§ 11-112
Future entrant§ 11-113
Re-entrant