Illinois Statutes
§ 9-118
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 9 - County Employees' and Officers' Annuity and Benefit Fund - Counties Over 3,000,000 Inhabitants
Effective rate of interest, interest at the effective rate, or interest. "Effective rate of interest", "interest at the effective rate", or "interest": Interest at 4% per annum for a present employee, or for a future entrant or re-entrant who was a participant or contributor on January 1, 1954; and at 3% per annum for a future entrant or re-entrant who becomes a contributor after January 1, 1954. In all cases involving reserves, credits, transfers, and charges, "effective rate of interest", "interest at the effective rate" or "interest" shall be applied at these rates.
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Legislative History
(Source: Laws 1963, p. 161 .)
Nearby Sections
15
§ 9-101
Creation of fund§ 9-102
Terms defined§ 9-103
Fund§ 9-104
The 1925 Act§ 9-105
County pension fund§ 9-106
Effective date§ 9-107
Retirement board or board§ 9-108.1
§ 9-108.1§ 9-108.2
Gender§ 9-108.3
In service§ 9-109
"Present employee"§ 9-110
"Future entrant"§ 9-111
Re-entrant§ 9-112
Salary