Illinois § 7-205.1 Reserves for Disability Benefits

Illinois Statutes

§ 7-205.1 — Reserves for Disability Benefits

Illinois § 7-205.1

JurisdictionIllinois

TopicGOVERNMENT

Ch. 40PENSIONS

Act 40 ILCS 5/Illinois Pension Code.

Art.Article 7 - Illinois Municipal Retirement Fund

This text of Illinois § 7-205.1 (Reserves for Disability Benefits) 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. 7-205.1 (2026).

Text

A temporary and total and permanent disability benefit reserves shall be created for payment of all temporary and total and permanent disability benefits.

1.Amounts to fund the cost of total and permanent disability benefits shall be established at the time such benefits are granted under actuarial tables adopted by the Board upon recommendation of the Actuary of the Fund. All total and permanent disability benefits payable shall be charged to this reserved amount.

2.Temporary disability benefit payments shall be charged to the disability reserve when made.

3.Amounts credited to the disability reserve shall be derived from municipality contributions made pursuant to Section 7-172, paragraph (b), subparagraph 3.

4.The total and permanent disability reserve shall be revalued annually as

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A temporary and total and permanent disability benefit reserves shall be created for payment of all temporary and total and permanent disability benefits. 1. Amounts to fund the cost of total and permanent disability benefits shall be established at the time such benefits are granted under actuarial tables adopted by the Board upon recommendation of the Actuary of the Fund. All total and permanent disability benefits payable shall be charged to this reserved amount. 2. Temporary disability benefit payments shall be charged to the disability reserve when made. 3. Amounts credited to the disability reserve shall be derived from municipality contributions made pursuant to Section 7-172, paragraph (b), subparagraph 3. 4. The total and permanent disability reserve shall be revalued annually as of December 31. Any adjustment required therein by such revaluation shall be charged or credited to the earnings and experience variation reserve.