Illinois Statutes
§ 12-177 — Employee accounts
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
The amounts contributed by employees for service annuity and spouse's service annuity shall be credited to this account; also all amounts contributed by the employer in lieu of deductions from salary in cases of ordinary or duty disability. An individual account shall be kept with each employee. As contributions by or on behalf of the employee are made, each such account shall be credited with the amounts thereof. At least once each year each account shall be credited with regular interest.
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Illinois § 12-177 (Employee accounts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 87-1265.)
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