Chapter 40, PENSIONS

(40 ILCS 5/11-162) (from Ch. 108 1/2, par. 11-162) Sec. 11-162. Re-entry into service - Prior employee. An employee who was not in the service of an employer or the retirement board of any annuity and benefit fund which is on an actuarial reserve basis on the effective date, who …

(40 ILCS 5/11-163) (from Ch. 108 1/2, par. 11-163) Sec. 11-163. Restoration of rights. An employee who has withdrawn as a refund the amounts credited for annuity purposes, and who (i) re-enters service of the employer and serves for periods comprising at least 90 days after the d…

(40 ILCS 5/11-164) (from Ch. 108 1/2, par. 11-164) Sec. 11-164. Refunds - Withdrawal before age 55 or age 62 or with less than 10 years of service. (1) An employee who first became a member before January 1, 2011, without regard to length of service, who withdraws before age 55, …

(40 ILCS 5/11-165) (from Ch. 108 1/2, par. 11-165) Sec. 11-165. Refund of widow's annuity deductions. If a male employee is (1) unmarried when he attains age 65, or (2) married at age 65, and subsequently becomes a widower while still in service, or (3) unmarried upon withdrawal …

(40 ILCS 5/11-166) (from Ch. 108 1/2, par. 11-166) Sec. 11-166. Refunds - When paid to beneficiaries, children or estate. Whenever the total amount accumulated to the account of a deceased employee from employee contributions for annuity purposes have not been paid to him, and in…

(40 ILCS 5/11-167) (from Ch. 108 1/2, par. 11-167) Sec. 11-167. Refunds in lieu of annuity. In lieu of an annuity, an employee who withdraws, and whose annuity would amount to less than $800 a month for life may elect to receive a refund of the total sum accumulated to his credit…

(40 ILCS 5/11-168) (from Ch. 108 1/2, par. 11-168) Sec. 11-168. Refunds-Transfer of city contributions. Whenever any amount is refunded, as provided in Sections 11-164 and 11-165, the amounts to the credit of the employee from contributions by the city, shall be transferred to th…

(40 ILCS 5/11-169) (from Ch. 108 1/2, par. 11-169) Sec. 11-169. Financing; tax levy. (a) Except as provided in subsection (f) of this Section, the city council of the city shall levy a tax annually upon all taxable property in the city at the rate that will produce a sum which, w…

(40 ILCS 5/11-170) (from Ch. 108 1/2, par. 11-170) Sec. 11-170. Contributions for age and service annuities for present employees, future entrants and re-entrants. (a) Beginning on the effective date and prior to July 1, 1947, 3 1/4%; and beginning on July 1, 1947 and prior to Ju…

(40 ILCS 5/11-170.1) (from Ch. 108 1/2, par. 11-170.1) Sec. 11-170.1. Pickup of employee contributions. (a) The employer may pick up the employee contributions required by Sections 11-156, 11-170, 11-174 and 11-175.1 for salary earned after December 31, 1981. If employee contribu…

(40 ILCS 5/11-171) (from Ch. 108 1/2, par. 11-171) Sec. 11-171. Additional contributions and credits-All employees. Any employee in service on July 1, 1947, may elect to make an additional contribution while in service which shall not exceed 7/13 of the sum accumulated for age an…

(40 ILCS 5/11-172) (from Ch. 108 1/2, par. 11-172) Sec. 11-172. Contributions by employee after annuity is fixed. Any contributions by an employee, after the date when his age and service annuity is fixed, shall not increase the amount of such annuity. Such contributions shall be…

(40 ILCS 5/11-173) (from Ch. 108 1/2, par. 11-173) Sec. 11-173. Interest credits-All employees. Amounts credited for age and service and prior service annuity shall be improved by interest at the effective rate from the end of the month in which the contributions were due during …

(40 ILCS 5/11-174) (from Ch. 108 1/2, par. 11-174) Sec. 11-174. Contributions for widow's annuity for widows of present employees, future entrants and re-entrants. (a) Beginning on the effective date, 1%, and from and after January 1, 1966, 1 1/2%, of each payment of salary, shal…

(40 ILCS 5/11-175) (from Ch. 108 1/2, par. 11-175) Sec. 11-175. Widow's annuity interest credits-All employees. Amounts allocated to the account of and credited for widow's and widow's prior service annuity shall be improved by interest at the effective rate from the end of the m…

(40 ILCS 5/11-175.1) (from Ch. 108 1/2, par. 11-175.1) Sec. 11-175.1. Contributions by female employees. (a) Effective as of October 1, 1974, each female employee shall contribute at the same rates as a male employee for widow's annuity or other benefits, to the end that like cre…

(40 ILCS 5/11-176) (from Ch. 108 1/2, par. 11-176) Sec. 11-176. Contributions by city for duty disability benefit. In lieu of all amounts ordinarily contributed by an employee and by the city for age and service annuity, and widow's annuity the city shall contribute sums equal to…

(40 ILCS 5/11-177) (from Ch. 108 1/2, par. 11-177) Sec. 11-177. Contributions by city for ordinary disability benefit. The city shall contribute all amounts ordinarily contributed by it for annuity purposes for any employee receiving ordinary disability benefit as though he were …

(40 ILCS 5/11-178) (from Ch. 108 1/2, par. 11-178) Sec. 11-178. Contributions by city for prior service annuities and other benefits. The city shall make contributions to provide prior service and widow's prior service annuities, and other annuities and benefits, as follows: 1. T…

(40 ILCS 5/11-179) (from Ch. 108 1/2, par. 11-179) Sec. 11-179. Contribution by city for administration costs. The city shall contribute from revenue derived from taxes herein authorized, the amount necessary to defray costs of administration of the fund. Beginning July 1, 1987, …

(40 ILCS 5/11-179.1) (This Section was added by P.A. 98-641, which has been held unconstitutional) Sec. 11-179.1. Use of contributions for health care subsidies. Except as may be required pursuant to Sections 11-160.1 and 11-160.2 of this Code, the Fund shall not use any contribu…

(40 ILCS 5/11-180) (from Ch. 108 1/2, par. 11-180) Sec. 11-180. Estimates of sums required for certain annuities and benefits. The board shall estimate the amounts required each year to pay for all annuities and benefits and administrative expenses. The amounts shall be paid into…

(40 ILCS 5/11-181) (from Ch. 108 1/2, par. 11-181) Sec. 11-181. Board created. A board of 8 members shall constitute the board of trustees authorized to carry out the provisions of this Article. The board shall be known as the Retirement Board of the Laborers' and Retirement Boar…

(40 ILCS 5/11-182) (from Ch. 108 1/2, par. 11-182) Sec. 11-182. Board elections; qualification; oath. (a) In each year, the board shall conduct a regular election, under rules adopted by it, at least 30 days prior to the expiration of the term of the employee member whose term ne…

(40 ILCS 5/11-183) (from Ch. 108 1/2, par. 11-183) Sec. 11-183. Board vacancy. A vacancy in the membership of the board shall be filled as follows: If the vacancy is that of an appointive member, the person or body who appointed the member shall appoint a person to serve for the …

(40 ILCS 5/11-184) (from Ch. 108 1/2, par. 11-184) Sec. 11-184. Board officers. The board shall elect annually at its regular December meeting from among its members, by a majority vote of the members voting upon the question, a president, vice-president and a secretary who shall…

(40 ILCS 5/11-185) (from Ch. 108 1/2, par. 11-185) Sec. 11-185. Board meetings. The board shall hold regular meetings in each month and special meetings as it deems necessary. A majority of the members shall constitute a quorum for the transaction of business at any meeting, but …

(40 ILCS 5/11-186) (from Ch. 108 1/2, par. 11-186) Sec. 11-186. Board powers and duties. The board shall have the powers and duties stated in Sections 11-187 to 11-198, inclusive, in addition to such other powers and duties provided in this Article. (Source: Laws 1963, p. 161.)…

(40 ILCS 5/11-187) (from Ch. 108 1/2, par. 11-187) Sec. 11-187. To supervise collections. To see that all amounts specified in this Article to be applied to the fund, from any source, are collected and applied. (Source: Laws 1963, p. 161.)

(40 ILCS 5/11-188) (from Ch. 108 1/2, par. 11-188) Sec. 11-188. To notify of deductions. To notify the city comptroller and the board of education of the city and any such retirement board concerned of the deductions to be made from the salaries of employees. (Source: P.A. 81-153…

(40 ILCS 5/11-189) (from Ch. 108 1/2, par. 11-189) Sec. 11-189. To accept gifts. To accept by gift, grant, bequest or otherwise any money or property of any kind and use the same for the purposes of the fund. (Source: Laws 1963, p. 161.)

(40 ILCS 5/11-190) (from Ch. 108 1/2, par. 11-190) Sec. 11-190. To invest the reserves. To invest the reserves of the fund in accordance with Sections 1-109, 1-109.1, 1-109.2, 1-110, 1-111, 1-114, and 1-115 of this Act. Investments made in accordance with Section 1-113 shall be d…

(40 ILCS 5/11-190.1) (from Ch. 108 1/2, par. 11-190.1) Sec. 11-190.1. Loan of securities. The Board may lend securities owned by the Fund to a borrower upon such written terms and conditions as may be mutually agreed. Such agreement shall provide that during the period of such lo…

(40 ILCS 5/11-191) (from Ch. 108 1/2, par. 11-191) Sec. 11-191. To have an audit. To have an audit of the accounts of the fund made at least once each year by certified public accountants. (Source: Laws 1963, p. 161.)

(40 ILCS 5/11-192) (from Ch. 108 1/2, par. 11-192) Sec. 11-192. To authorize payments. To authorize or suspend the payment of any annuity or benefit in accordance with this Article. The board shall have exclusive original jurisdiction in all matters relating to or affecting the f…

(40 ILCS 5/11-193) (from Ch. 108 1/2, par. 11-193) Sec. 11-193. To determine service credits. To require each employee to file a statement concerning service rendered the employer and the retirement board, prior to the effective date. The board shall make a determination of the l…

(40 ILCS 5/11-194) (from Ch. 108 1/2, par. 11-194) Sec. 11-194. To issue certificate of prior service. To issue a certificate showing the entire period of service rendered by a present employee prior to the effective date and the amounts to his credit, for prior service and widow…

(40 ILCS 5/11-195) (from Ch. 108 1/2, par. 11-195) Sec. 11-195. To submit an annual report. To submit a report in July of each year to the city council of the city, as of the close of business on December 31st of the preceding year. The report shall contain a detailed statement o…

(40 ILCS 5/11-196) (from Ch. 108 1/2, par. 11-196) Sec. 11-196. To subpoena witnesses and compel the production of records. To issue subpoenas to compel the attendance of witnesses to testify before it and to compel the production of documents and records upon any matter concerni…

(40 ILCS 5/11-197) (from Ch. 108 1/2, par. 11-197) Sec. 11-197. To appoint employees. To appoint such actuarial, medical, legal, clerical or other employees as are necessary and fix their compensation. The board shall develop procedures for obtaining, by contract or employment, a…

(40 ILCS 5/11-197.7) Sec. 11-197.7. Payment of annuity other than direct. The board, at the written direction and request of any annuitant, may, solely as an accommodation to such annuitant, pay the annuity due him or her to a bank, savings and loan association, or any other fina…

(40 ILCS 5/11-198) (from Ch. 108 1/2, par. 11-198) Sec. 11-198. To make rules. To make rules and regulations necessary for the administration of the fund. (Source: Laws 1963, p. 161.)

(40 ILCS 5/11-199) (from Ch. 108 1/2, par. 11-199) Sec. 11-199. Moneys to be held on deposit. To make the payments authorized by this Article, the board may keep and hold uninvested a sum not in excess of the amounts required to make all annuity payments which become due in the f…

(40 ILCS 5/11-200) (from Ch. 108 1/2, par. 11-200) Sec. 11-200. Accounting. An adequate system of accounts and records shall be established to give effect to the requirements of this Article, and shall be maintained in accordance with generally accepted accounting principles. The…

(40 ILCS 5/11-201) (from Ch. 108 1/2, par. 11-201) Sec. 11-201. Expense reserve. Amounts contributed by the city to defray the cost of administration of the fund shall be credited to this reserve. Expenses of administration shall be charged to it. (Source: Laws 1963, p. 161.)…

(40 ILCS 5/11-202) (from Ch. 108 1/2, par. 11-202) Sec. 11-202. City contribution reserve. Amounts contributed by the city for age and service annuity, widow's annuity and supplemental annuity (except those contributed in lieu of deductions from the salary of an employee who rece…

(40 ILCS 5/11-203) (from Ch. 108 1/2, par. 11-203) Sec. 11-203. Employees' contribution reserve. Amounts deducted from employee's salaries for age and service annuity and widow's annuity, or otherwise contributed by employees, amounts contributed by the city for such annuities fo…

(40 ILCS 5/11-204) (from Ch. 108 1/2, par. 11-204) Sec. 11-204. Annuity payment reserve. Amounts transferred from the city contribution reserve and the employees' contribution reserve for annuities which have been fixed, amounts deducted from an employee's salary after the age an…

(40 ILCS 5/11-205) (from Ch. 108 1/2, par. 11-205) Sec. 11-205. Prior service annuity reserve. Amounts contributed by the city for prior service annuity, widow's prior service annuity and minimum annuities, shall be credited to this reserve. Prior service and widow's prior servic…

(40 ILCS 5/11-206) (from Ch. 108 1/2, par. 11-206) Sec. 11-206. Child's annuity reserve. Amounts contributed by the city for child's annuity shall be credited to this reserve and such annuities shall be charged to it. (Source: Laws 1963, p. 161.)