Illinois Statutes
§ 8-128 — Prior service annuity-When due
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 8 - Municipal Employees', Officers', And Officials' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants
A "Prior Service Annuity" shall be credited to present employees in accordance with the 1921 Act for service rendered prior to the effective date. Each such credit shall be improved by interest at the effective rate during the time the employee is in service until his annuity is fixed. In determining such credit, the employee's annual salary for his entire period of prior service shall be the salary in effect on the effective date.
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Legislative History
(Source: Laws 1963, p. 161.)
Nearby Sections
15
§ 8-101
Creation of fund§ 8-102
Terms defined§ 8-103
Fund§ 8-104
The 1921 Act§ 8-107.1
Public Library Employes' Pension Act§ 8-108.3
§ 8-108.3§ 8-109
Civil Service Act§ 8-109.1
§ 8-109.1§ 8-110
Employer§ 8-111
Effective date