Illinois Statutes
§ 11-205 — Prior service annuity 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 contributed by the city for prior service annuity, widow's prior service annuity and minimum annuities, shall be credited to this reserve. Prior service and widow's prior service annuities payable under this Article and that part of any minimum annuity which is in excess of the age and service and prior service annuity shall be charged to this reserve. If the balance of the investment and interest reserve is not sufficient to permit a transfer from that reserve to the annuity payment reserve to make the credit balance of the annuity payment reserve equal to the liabilities chargeable thereto (including the present values of all annuities entered upon or fixed and of all annuities not entered upon), amounts necessary for such purpose shall be transferred from this reserve to the inv
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Legislative History
(Source: Laws 1963, p. 161.)
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