Illinois § 16-185 Benefit Trust Reserve

Illinois Statutes

§ 16-185 — Benefit Trust Reserve

Illinois § 16-185

JurisdictionIllinois

TopicGOVERNMENT

Ch. 40PENSIONS

Act 40 ILCS 5/Illinois Pension Code.

Art.Article 16 - Teachers' Retirement System Of The State Of Illinois

This text of Illinois § 16-185 (Benefit Trust Reserve) 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. 16-185 (2026).

Text

(a)On July 1, 2003, the Employer's Contribution Reserve shall be renamed the Benefit Trust Reserve. The Benefit Trust Reserve shall serve as a clearing account for income and expenses of the System as well as transfers to and from the other reserve accounts established under this Article and adjustments thereto.

(b)This Reserve shall be credited with all contributions, investment income, and other income received by the System, except as otherwise required by this Article.

(c)This Reserve shall be charged with all benefits and refunds paid and all other expenses of the System, except as otherwise required under this Article.

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(a) On July 1, 2003, the Employer's Contribution Reserve shall be renamed the Benefit Trust Reserve. The Benefit Trust Reserve shall serve as a clearing account for income and expenses of the System as well as transfers to and from the other reserve accounts established under this Article and adjustments thereto. (b) This Reserve shall be credited with all contributions, investment income, and other income received by the System, except as otherwise required by this Article. (c) This Reserve shall be charged with all benefits and refunds paid and all other expenses of the System, except as otherwise required under this Article.