Illinois Statutes
§ 12-115 — Present value
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000
"Present value": The amount of funds presently required to provide an annuity or benefit at some future date when computed according to the actuarial tables.
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Illinois § 12-115 (Present value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: Laws 1963, p. 161.)
Nearby Sections
15
§ 12-101
Creation of fund§ 12-102
Terms defined§ 12-103
The 1919 Act§ 12-105
Retirement board or board§ 12-106
Actuarial tables§ 12-107
Reserve§ 12-108
Highest salary§ 12-109
Service§ 12-111
Withdrawal or withdraws§ 12-112
Future entrant§ 12-114
Regular interest§ 12-115
Present value§ 12-116
Fiscal year§ 12-117
Contributions