Illinois Statutes
§ 7-124 — Prescribed rate of interest
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 7 - Illinois Municipal Retirement Fund
"Prescribed rate of interest": The rate of interest to be used for calculation of the rates of municipality contributions and amounts of annuities and benefits as determined by the board on the basis of the probable effective rate of interest on a long term basis.
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Legislative History
(Source: Laws 1963, p. 161.)
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