Illinois Statutes
§ 7-115 — Rate of earnings
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 7 - Illinois Municipal Retirement Fund
"Rate of earnings": The actual rate upon which the earnings of an employee are calculated at any time, as certified in a written notice, on file with the board, by the governing body of the municipality, or instrumentality, or participating instrumentality. For periods during which the employee did not participate but is entitled to creditable service, the monthly earnings shall be considered to be the earnings in the position for each calendar year divided by the number of months of creditable service in that year.
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Legislative History
(Source: P.A. 82-596.)
Nearby Sections
15
§ 7-101
Creation of fund§ 7-102
Purpose§ 7-103
Terms defined§ 7-104
Fund§ 7-105
§ 7-105§ 7-106
Participating municipality§ 7-107
Instrumentality§ 7-109
Employee§ 7-109.1
§ 7-109.1§ 7-109.2
§ 7-109.2§ 7-109.4
Tier 1 regular employee§ 7-109.5
Tier 2 regular employee§ 7-110
Participating employee