Chapter 40 — PENSIONS

(40 ILCS 5/2-121.3) (from Ch. 108 1/2, par. 2-121.3) Sec. 2-121.3. Required distributions. (a) A person who would be eligible to receive a survivor's annuity under this Article but for the fact that the person has not yet attained age 50, shall be eligible for a monthly distribut…

(40 ILCS 5/2-122) (from Ch. 108 1/2, par. 2-122) Sec. 2-122. Re-entry after retirement. An annuitant who re-enters service as a member shall become a participant on the date of re-entry and retirement annuity payments shall cease at that time. The participant shall resume contrib…

(40 ILCS 5/2-123) (from Ch. 108 1/2, par. 2-123) Sec. 2-123. Refunds. (a) A participant who ceases to be a member, other than an annuitant, shall, upon written request, receive a refund of his or her total contributions, without interest. The refund shall include the additional c…

(40 ILCS 5/2-124) (from Ch. 108 1/2, par. 2-124) Sec. 2-124. Contributions by State. (a) The State shall make contributions to the System by appropriations of amounts which, together with the contributions of participants, interest earned on investments, and other income will mee…

(40 ILCS 5/2-125) (from Ch. 108 1/2, par. 2-125) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 2-125. Obligations of State; funding guarantee. (a) The payment of (1) the required State contributions, (2) all benefits granted und…

(40 ILCS 5/2-126) (from Ch. 108 1/2, par. 2-126) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 2-126. Contributions by participants. (a) Each participant shall contribute toward the cost of his or her retirement annuity a percen…

(40 ILCS 5/2-126.1) (from Ch. 108 1/2, par. 2-126.1) Sec. 2-126.1. Pickup of contributions. (a) The State shall pick up the participant contributions required under Section 2-126 for all salary earned after December 31, 1981. The contributions so picked up shall be treated as emp…

(40 ILCS 5/2-126.5) (This Section was added by P.A. 98-599, which has been held unconstitutional) Sec. 2-126.5. Use of contributions for health care subsidies. The System shall not use any contribution received by the System under this Article to provide a subsidy for the cost of…

(40 ILCS 5/2-127) (from Ch. 108 1/2, par. 2-127) Sec. 2-127. Board created. The system shall be administered by a board of trustees of 7 members as follows: 3 members of the Senate appointed by the President; 3 members of the House of Representatives appointed by the Speaker; and…

(40 ILCS 5/2-128) (from Ch. 108 1/2, par. 2-128) Sec. 2-128. Board vacancy. A vacancy in the office of an appointed or ex-officio member occurring during the session of the General Assembly shall be filled by appointment for the unexpired term in the manner provided in Section 2-…

(40 ILCS 5/2-129) (from Ch. 108 1/2, par. 2-129) Sec. 2-129. Board voting. Each trustee is entitled to one vote on any action of the board. Not less than 4 concurring votes shall be necessary for action by the board at any meeting. No decision or action shall be effective unless …

(40 ILCS 5/2-130) (from Ch. 108 1/2, par. 2-130) Sec. 2-130. Board powers and duties. The board shall have the powers and duties stated in Sections 2-131 through 2-143, in addition to the other powers and duties provided in this Article. (Source: P.A. 83-1440.)

(40 ILCS 5/2-131) (from Ch. 108 1/2, par. 2-131) Sec. 2-131. To hold meetings. To hold regular meetings at least twice in each year, and special meetings at such times as are deemed necessary by the board. At least 10 days' notice of each meeting shall be given to each trustee. A…

(40 ILCS 5/2-132) (from Ch. 108 1/2, par. 2-132) Sec. 2-132. To authorize payments. To consider and pass on all applications for annuities and refunds; to authorize the granting of all annuities and refunds; to suspend any payment or payments, all in accordance with this Article.…

(40 ILCS 5/2-133) (from Ch. 108 1/2, par. 2-133) Sec. 2-133. To certify interest rate and adopt actuarial tables. To certify in the records of the board the prescribed interest rate, and to adopt all necessary actuarial tables in accordance with recommendations of the actuary. (S…

(40 ILCS 5/2-134) (from Ch. 108 1/2, par. 2-134) Sec. 2-134. To certify required State contributions and submit vouchers. (a) The Board shall certify to the Governor on or before December 15 of each year until December 15, 2011 the amount of the required State contribution to the…

(40 ILCS 5/2-136) (from Ch. 108 1/2, par. 2-136) Sec. 2-136. To provide for examination of disability annuitants. To provide for the examination of disability annuitants at least once each year during the continuance of disability prior to age 60. The examination shall be by one …

(40 ILCS 5/2-137) (from Ch. 108 1/2, par. 2-137) Sec. 2-137. To establish an office. To establish an office or offices with suitable space for the meetings of the board and for the necessary administrative personnel. All books and records shall be kept in such offices. (Source: L…

(40 ILCS 5/2-138) (from Ch. 108 1/2, par. 2-138) Sec. 2-138. To hire employees. To appoint a secretary and employ such other actuarial, medical, clerical or other help as shall be required for the efficient administration of the system and to determine and fix their rate of pay. …

(40 ILCS 5/2-139) (from Ch. 108 1/2, par. 2-139) Sec. 2-139. To keep records and accounts. To keep a permanent record of all proceedings of the board, a separate account for each individual member and such additional data as are specified by the actuary as necessary for required …

(40 ILCS 5/2-139.1) Sec. 2-139.1. To request information. To request from any member, annuitant, beneficiary, or employer such information as is necessary for the proper administration of the System. (Source: P.A. 99-450, eff. 8-24-15.)

(40 ILCS 5/2-140) (from Ch. 108 1/2, par. 2-140) Sec. 2-140. To have an audit and submit statements. To have the accounts of the system audited at least biennially by a certified public accountant designated by the Auditor General and to submit an annual statement to the Governor…

(40 ILCS 5/2-141) (from Ch. 108 1/2, par. 2-141) Sec. 2-141. To accept gifts. To accept any gift, grant or bequest of any money or securities. If the grantor specifies the purpose of providing cash benefits for some or all of the participants or annuitants of the system, the gift…

(40 ILCS 5/2-142) (from Ch. 108 1/2, par. 2-142) Sec. 2-142. To submit individual statement. To submit an individual statement to any participating member upon the member's request. The statement shall show the amount of accumulations to the member's credit as of the latest date …

(40 ILCS 5/2-143) (from Ch. 108 1/2, par. 2-143) Sec. 2-143. To establish rules. To establish rules necessary for the efficient administration of the system. (Source: Laws 1963, p. 161.)

(40 ILCS 5/2-144) (from Ch. 108 1/2, par. 2-144) Sec. 2-144. Secretary. The secretary shall be in charge of the administration of the detailed affairs of the system and, in addition to such other powers and duties as are delegated by the board, shall: (1) Collect and record the r…

(40 ILCS 5/2-145) (from Ch. 108 1/2, par. 2-145) Sec. 2-145. Treasurer. The State Treasurer shall be ex-officio the treasurer of the system and shall: (1) Act as official custodian of the cash and securities of the system and provide adequate safe deposit facilities for the prese…

(40 ILCS 5/2-146) (from Ch. 108 1/2, par. 2-146) Sec. 2-146. Actuary. The actuary shall be the technical advisor of the board and, in addition to supplying general information on technical matters, shall: (1) Make an investigation at least once every 3 years of the mortality, ret…

(40 ILCS 5/2-147) (from Ch. 108 1/2, par. 2-147) Sec. 2-147. State Comptroller. The State Comptroller in drawing salary warrants on payroll vouchers for members shall draw such warrants to participants for the salary specified less the member contributions to be deducted, as cert…

(40 ILCS 5/2-148) (from Ch. 108 1/2, par. 2-148) Sec. 2-148. Speaker of House - President of Senate. The Speaker of the House and the President of the Senate, in the preparation of payroll vouchers for payments of salary to participants, shall indicate in addition to other things…

(40 ILCS 5/2-149) (from Ch. 108 1/2, par. 2-149) Sec. 2-149. Authorization. Each participant shall, by virtue of the payment of the participant contributions paid to the system, receive a vested interest in the refunds provided herein, and in consideration of such vested interest…

(40 ILCS 5/2-150) (from Ch. 108 1/2, par. 2-150) Sec. 2-150. Retirement Systems Reciprocal Act. The "Retirement Systems Reciprocal Act", being Article 20 of this Code, is adopted, and made a part of this Article; provided, (1) that where there is a direct conflict in the provisio…

(40 ILCS 5/2-151) (from Ch. 108 1/2, par. 2-151) Sec. 2-151. No compensation. Trustees shall serve without compensation, but shall be reimbursed for reasonable traveling expenses incurred in attending meetings of the board. (Source: P.A. 83-1440.)

(40 ILCS 5/2-152) (from Ch. 108 1/2, par. 2-152) Sec. 2-152. No monetary gain on investments. No trustee or employee of the board shall have any direct interest in the income, gains or profits of any investments made in behalf of the system, nor receive any pay or emolument for s…

(40 ILCS 5/2-153) (from Ch. 108 1/2, par. 2-153) Sec. 2-153. Undivided interest. The assets of the system shall be invested as one fund, and no particular person, group of persons or entity shall have any right in any specific security or property, or in any item of cash, other t…

(40 ILCS 5/2-154) (from Ch. 108 1/2, par. 2-154) Sec. 2-154. Assignment. Except as provided in this Article, all moneys in the fund created by this Article, and all securities and other property of the System, and all annuities and other benefits payable under this Article, and a…

(40 ILCS 5/2-155) (from Ch. 108 1/2, par. 2-155) Sec. 2-155. Fraud. Any person who knowingly makes any false statement, or falsifies or permits to be falsified any record of this system, in any attempt to defraud the system, is guilty of a petty offense. (Source: P.A. 77-2560.)…

(40 ILCS 5/2-155.1) Sec. 2-155.1. Mistake in benefit. If the System mistakenly sets any benefit at an incorrect amount, it shall recalculate the benefit as soon as may be practicable after the mistake is discovered. If the benefit was mistakenly set too low, the System shall make…

(40 ILCS 5/2-156) (from Ch. 108 1/2, par. 2-156) Sec. 2-156. Felony conviction. None of the benefits herein provided for shall be paid to any person who is convicted of any felony relating to or arising out of or in connection with his or her service as a member. None of the bene…

(40 ILCS 5/2-157) (from Ch. 108 1/2, par. 2-157) Sec. 2-157. Administrative review. The provisions of the Administrative Review Law, and all amendments and modifications thereof and the rules adopted pursuant thereto, shall apply to and govern all proceedings for the judicial rev…

(40 ILCS 5/2-158) (from Ch. 108 1/2, par. 2-158) Sec. 2-158. General provisions and savings clause. The provisions of Article 1 and Article 23 of this Code apply to this Article as though such provisions were fully set forth in this Article as a part thereof. (Source: Laws 1963, …

(40 ILCS 5/2-160) (from Ch. 108 1/2, par. 2-160) Sec. 2-160. Savings clause. The repeal or amendment of any Section or provision of this Article by this amendatory Act of 1984 shall not affect or impair any pensions, benefits, rights or credits accrued or in effect prior thereto.…

(40 ILCS 5/2-161) (from Ch. 108 1/2, par. 2-161) Sec. 2-161. Application of amendments. The amendments to Sections 2-119.1 and 2-126 of this Code made by this amendatory Act of 1993 shall apply to persons who are active contributors to this System on or after November 30, 1992. A…

(40 ILCS 5/2-162) Sec. 2-162. Application and expiration of new benefit increases. (a) As used in this Section, "new benefit increase" means an increase in the amount of any benefit provided under this Article, or an expansion of the conditions of eligibility for any benefit unde…

(40 ILCS 5/2-163) Sec. 2-163. Termination of plan. Upon plan termination, a participant's interest in the pension fund will be nonforfeitable. (Source: P.A. 98-1117, eff. 8-26-14.)

(40 ILCS 5/2-165) Sec. 2-165. (Repealed). (Source: P.A. 98-599, eff. 6-1-14. Repealed by P.A. 100-23, eff. 7-6-17.)

(40 ILCS 5/2-166) Sec. 2-166. (Repealed). (Source: P.A. 98-599, eff. 6-1-14. Repealed by P.A. 100-23, eff. 7-6-17.)

(40 ILCS 5/20-101) (from Ch. 108 1/2, par. 20-101) Sec. 20-101. Continuity and preservation of pension credits. There is established a plan for the continuity and preservation of pension credit, in accordance with the provisions hereof, in the case of employees transferring emplo…

(40 ILCS 5/20-102) (from Ch. 108 1/2, par. 20-102) Sec. 20-102. Terms defined. The terms as used in this Article, shall have the meanings ascribed to them in Sections 20-103 to 20-113, inclusive, except when the context otherwise requires. (Source: Laws 1963, p. 161.)

(40 ILCS 5/20-103) (from Ch. 108 1/2, par. 20-103) Sec. 20-103. Effective date. "Effective date": July 1, 1955, or in the case of any retirement system becoming subject to the provisions of "The 1955 Act" or this Article after such date, the date when such retirement system comes…