Illinois Statutes
§ 9-123 — Prior service annuities-When due
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
A "Prior Service Annuity" shall be credited to present employees in accordance with "The 1925 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
§ 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