Illinois § 16-186.3 Reserve for minimum retirement annuity

Illinois Statutes

§ 16-186.3 — Reserve for minimum retirement annuity

Illinois § 16-186.3

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 § 16-186.3 (Reserve for minimum retirement annuity) 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. 16-186.3 (2026).

Text

(a)A Minimum Retirement Annuity Reserve is established for the purpose of crediting funds received and charging disbursements for minimum retirement annuity payments under Section 16-136.2 and Section 16-136.3. This Reserve shall be credited with:

(1)The total of all contributions made by annuitants to qualify for the minimum retirement annuity.

(2)Amounts contributed to the System by the State of Illinois that are sufficient to assure payment of the minimum retirement annuity payments under Section 16-136.2 and Section 16-136.3.

(3)Regular interest computed annually on the average balance in this Reserve. This Reserve shall be charged with all minimum retirement annuity payments under Section 16-136.2 and Section 16-136.3.

(b)After all minimum retirement annuity payments have been co

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A Minimum Retirement Annuity Reserve is established for the purpose of crediting funds received and charging disbursements for minimum retirement annuity payments under Section 16-136.2 and Section 16-136.3. This Reserve shall be credited with: (1) The total of all contributions made by annuitants to qualify for the minimum retirement annuity. (2) Amounts contributed to the System by the State of Illinois that are sufficient to assure payment of the minimum retirement annuity payments under Section 16-136.2 and Section 16-136.3. (3) Regular interest computed annually on the average balance in this Reserve. This Reserve shall be charged with all minimum retirement annuity payments under Section 16-136.2 and Section 16-136.3. (b) After all minimum retirement annuity payments have been completed, any remaining funds shall be transferred from this Reserve to the Benefit Trust Reserve.