Illinois Statutes
§ 6-161 — Refund-Transfer of city contributions
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 6 - Firemen's Annuity And Benefit Fund--Cities Over 500,000
Whenever any amounts are refunded, the accumulated city contributions shall be transferred to the prior service annuity reserve until such time as the assets of said reserve become equal to the liabilities thereof. Thereafter such amounts and the interest thereon shall be used to reduce the amount which the city would otherwise be required to contribute during a succeeding year to the fund.
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Illinois § 6-161 (Refund-Transfer of city contributions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: Laws 1963, p. 161.)
Nearby Sections
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Creation of fund§ 6-102
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Effective date§ 6-105
Retirement board or board§ 6-106
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Gender§ 6-107
Present employee§ 6-108
Future entrant§ 6-109
Active fireman§ 6-110
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