Chapter 40 — PENSIONS

(40 ILCS 5/5-175.1) (from Ch. 108 1/2, par. 5-175.1) Sec. 5-175.1. Contributions by female policemen. (a) Effective as of October 1, 1974, female policemen shall make the same contributions for survivors' annuities or other benefits as are in effect for male policemen, to the end…

(40 ILCS 5/5-176) (from Ch. 108 1/2, par. 5-176) Sec. 5-176. Cost of administration. The city shall contribute the entire costs of administration of the fund from revenue derived from the taxes authorized to be levied for the fund. (Source: Laws 1963, p. 161.)

(40 ILCS 5/5-177) (from Ch. 108 1/2, par. 5-177) Sec. 5-177. Other city contributions-Estimates. The board shall estimate the amounts required each year to be contributed by the city to pay all annuities and benefits hereunder and administrative expenses. All amounts shall be pai…

(40 ILCS 5/5-178) (from Ch. 108 1/2, par. 5-178) Sec. 5-178. Board created. A board of 8 members shall constitute a board of trustees authorized to administer the provisions of this Article. The board shall be known as the Retirement Board of the Policemen's Annuity and Benefit F…

(40 ILCS 5/5-179) (from Ch. 108 1/2, par. 5-179) Sec. 5-179. Board elections. The regular elections for members of the board shall be held under rules of the board at least 30 days prior to the expiration of the term of office of any elective member. At any election for active po…

(40 ILCS 5/5-180) (from Ch. 108 1/2, par. 5-180) Sec. 5-180. Board vacancy, removal and recall. A vacancy on the board owing to death, resignation or any other cause shall be filled as follows: If the vacancy is of an appointee of the mayor, the mayor shall appoint a person to se…

(40 ILCS 5/5-181) (from Ch. 108 1/2, par. 5-181) Sec. 5-181. Board officers. At each regular meeting in December, the board shall elect, by a majority vote of the members who vote upon the question, a president, a vice-president and a secretary from among its own members to serve…

(40 ILCS 5/5-182) (from Ch. 108 1/2, par. 5-182) Sec. 5-182. Board meetings. The board shall hold regular meetings in each month and such other meetings as it deems necessary. A majority of the board members shall constitute a quorum for the transaction of business at any meeting…

(40 ILCS 5/5-183) (from Ch. 108 1/2, par. 5-183) Sec. 5-183. Board powers and duties. The board shall have the powers and duties stated in Sections 5-184 to 5-195, inclusive, in addition to the other powers and duties provided in this Article. (Source: Laws 1963, p. 161.)

(40 ILCS 5/5-184) (from Ch. 108 1/2, par. 5-184) Sec. 5-184. To supervise deductions and contributions. To see that all amounts specified in this Article to be applied to the fund, from any source, are collected and so applied; to see that the sums to be deducted from the salarie…

(40 ILCS 5/5-185) (from Ch. 108 1/2, par. 5-185) Sec. 5-185. To notify comptroller of deductions. To notify the city comptroller of the amounts or percentages of salary to be deducted from the salaries of policemen and paid into the fund. (Source: P.A. 81-1536.)

(40 ILCS 5/5-186) (from Ch. 108 1/2, par. 5-186) Sec. 5-186. 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 5/5-187) (from Ch. 108 1/2, par. 5-187) Sec. 5-187. To invest money. To invest the monies of the fund in accordance with the provisions set forth in 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…

(40 ILCS 5/5-187.1) (from Ch. 108 1/2, par. 5-187.1) Sec. 5-187.1. To lend securities. The Board may lend securities owned by the Fund to a borrower upon such terms and conditions as may be mutually agreed in writing. Such agreement shall provide that during the period of such lo…

(40 ILCS 5/5-188) (from Ch. 108 1/2, par. 5-188) Sec. 5-188. To have an audit. To contract with an independent certified public accounting firm to perform an annual audit of the assets of the fund and issue a financial opinion. The annual audit shall be in addition to any examina…

(40 ILCS 5/5-189) (from Ch. 108 1/2, par. 5-189) Sec. 5-189. To authorize payments. To authorize the payment of any annuity, pension, or benefit granted under this Article or under any other Act relating to police pensions, heretofore in effect in the city which has been supersed…

(40 ILCS 5/5-190) (from Ch. 108 1/2, par. 5-190) Sec. 5-190. To require statements and determine service credits. To require each policeman, including those on vacation and on leave of absence, to file a statement, in such form as the Board directs, concerning service rendered pr…

(40 ILCS 5/5-191) (from Ch. 108 1/2, par. 5-191) Sec. 5-191. To issue certificate of service. To issue to each present employee a certificate which shall show the entire period of service rendered by him prior to the effective date and the amounts to his credit as of such date fo…

(40 ILCS 5/5-192) (from Ch. 108 1/2, par. 5-192) Sec. 5-192. To submit annual report to city council. To submit a report annually in June to the city council. The report shall be made as of the close of business on December 31st of the preceding year and shall contain a detailed …

(40 ILCS 5/5-193) (from Ch. 108 1/2, par. 5-193) Sec. 5-193. To subpoena witnesses. To compel witnesses to attend and testify before it upon any matter concerning the fund and to allow fees not in excess of $6 to any witness for attendance upon any one day. The president and othe…

(40 ILCS 5/5-194) (from Ch. 108 1/2, par. 5-194) Sec. 5-194. To appoint employees. To appoint such actuarial, medical, legal, clerical or other employees as may be necessary. Beginning July 1, 1988, the board shall develop procedures for obtaining, by contract or employment, any …

(40 ILCS 5/5-194.1) (from Ch. 108 1/2, par. 5-194.1) Sec. 5-194.1. To have a budget. The board shall adopt an annual budget at its regular January meeting for the current fiscal year. (Source: P.A. 85-964.)

(40 ILCS 5/5-195) (from Ch. 108 1/2, par. 5-195) Sec. 5-195. To make rules. To make rules and regulations necessary for the administration of the fund. (Source: Laws 1963, p. 161.)

(40 ILCS 5/5-196) (from Ch. 108 1/2, par. 5-196) Sec. 5-196. Moneys which may be held on deposit. To pay annuities and benefits the Board may at all times keep uninvested a sum not in excess of the amount required for such payments for a period not exceeding 60 days. Such sum sha…

(40 ILCS 5/5-197) (from Ch. 108 1/2, par. 5-197) Sec. 5-197. 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 re…

(40 ILCS 5/5-198) (from Ch. 108 1/2, par. 5-198) Sec. 5-198. Expense reserve. Amounts contributed towards the cost of administration shall be credited to the expense reserve. Expenses of administration shall be charged to this reserve. (Source: Laws 1963, p. 161.)

(40 ILCS 5/5-199) (from Ch. 108 1/2, par. 5-199) Sec. 5-199. City contribution reserve. Amounts contributed by the city for age and service annuity, widow's annuity and supplemental annuity, (except those contributed instead of deductions from salary of any policeman receiving du…

(40 ILCS 5/5-200) (from Ch. 108 1/2, par. 5-200) Sec. 5-200. Salary deduction reserve. The following amounts shall be credited to this reserve: (1) Amounts deducted from salaries of policemen or otherwise contributed for age and service annuity and widow's annuity; (2) amounts co…

(40 ILCS 5/5-201) (from Ch. 108 1/2, par. 5-201) Sec. 5-201. Annuity payment reserve. The following amounts shall be credited to this reserve: (1) amounts transferred from the city contribution reserve and from the salary deduction reserve for the payment of annuities which have …

(40 ILCS 5/5-202) (from Ch. 108 1/2, par. 5-202) Sec. 5-202. Prior service annuity reserve. The following amounts shall be credited to this reserve: (1) all contributions of the city for prior service annuity and widow's prior service annuity; (2) all other contributions of the c…

(40 ILCS 5/5-203) (from Ch. 108 1/2, par. 5-203) Sec. 5-203. Child's annuity reserve. Amounts contributed by the city for child's annuity shall be credited to this reserve, and all such annuities shall be charged to it. (Source: Laws 1963, p. 161.)

(40 ILCS 5/5-204) (from Ch. 108 1/2, par. 5-204) Sec. 5-204. Duty disability reserve. Amounts contributed by the city for duty disability benefit, occupational disease disability benefit, child's disability benefit, and compensation annuity shall be credited to this reserve, and …

(40 ILCS 5/5-205) (from Ch. 108 1/2, par. 5-205) Sec. 5-205. Ordinary disability reserve. Amounts contributed by the city, and all amounts deducted from the salaries of policemen for ordinary disability benefits shall be credited to this reserve and all such benefits shall be cha…

(40 ILCS 5/5-206) (from Ch. 108 1/2, par. 5-206) Sec. 5-206. Gift reserve. Amounts received by the board for any purpose under any other law or as gifts, grants, or bequests, or in any manner other than as provided in this Article, shall be credited to this reserve and the same s…

(40 ILCS 5/5-207) (from Ch. 108 1/2, par. 5-207) Sec. 5-207. Investment and interest reserve. All gains from investment and all interest earnings shall be credited, and all losses from investments shall be charged to this reserve. From this reserve shall be transferred all amount…

(40 ILCS 5/5-208) (from Ch. 108 1/2, par. 5-208) Sec. 5-208. Death benefit reserve. Amounts contributed by policemen and the city for ordinary death benefits shall be credited to this reserve and all such benefits shall be charged to it. At the close of each fiscal year, interest…

(40 ILCS 5/5-208.1) (from Ch. 108 1/2, par. 5-208.1) Sec. 5-208.1. Automatic increase reserve. Amounts deducted from the salaries of policemen and matching contributions by the City for the purposes of the automatic increase in annuity provided in Section 5-167.1, together with i…

(40 ILCS 5/5-209) (from Ch. 108 1/2, par. 5-209) Sec. 5-209. Deficiencies in reserves. (a) Whenever the balance in the expense reserve, the prior service annuity reserve, the child's annuity reserve, the duty disability reserve or the ordinary disability reserve is not sufficient…

(40 ILCS 5/5-210) (from Ch. 108 1/2, par. 5-210) Sec. 5-210. Treasurer of fund. The city treasurer of the city is the treasurer and custodian of the fund and shall furnish to the board a bond of such amount as it designates. The bond shall indemnify the board against any loss whi…

(40 ILCS 5/5-211) (from Ch. 108 1/2, par. 5-211) Sec. 5-211. Attorney. The chief legal officer of the city is ex officio the legal adviser of and attorney for the board. The board may employ a licensed attorney to render such special legal service as may be necessary. No fee or c…

(40 ILCS 5/5-212) (from Ch. 108 1/2, par. 5-212) Sec. 5-212. Computation of service. In computing the service rendered by a policeman prior to the effective date, the following periods shall be counted, in addition to all periods during where he performed the duties of his positi…

(40 ILCS 5/5-213) (from Ch. 108 1/2, par. 5-213) Sec. 5-213. Credit for service in fire department. Service rendered by a policeman, as a regular member of the paid fire department of the city shall be counted, for annuity and benefit purposes as if such service were rendered as …

(40 ILCS 5/5-214) (from Ch. 108 1/2, par. 5-214) Sec. 5-214. Credit for other service. Any participant in this fund (other than a member of the fire department of the city) who has rendered service as a member of the police department of the city for a period of 3 years or more i…

(40 ILCS 5/5-214.2) Sec. 5-214.2. Credit for certain law enforcement service. An active policeman who is a member of this Fund on or before the effective date of this Section may establish up to 10 years of additional service credit in 6-month increments for service in a law enfo…

(40 ILCS 5/5-214.3) Sec. 5-214.3. Credit for military service. A policeman may establish creditable service under this Article for all periods of service in the military, naval, or air forces of the United States entered upon before beginning service as an active policeman of a m…

(40 ILCS 5/5-215) (from Ch. 108 1/2, par. 5-215) Sec. 5-215. Credit for certain contributions of park policemen. The 1% deduction from salary made for costs of administration and ordinary disability benefits from July 17, 1959 to December 31, 1959, both inclusive, from the salari…

(40 ILCS 5/5-216) (from Ch. 108 1/2, par. 5-216) Sec. 5-216. When annuity or benefit not payable. Except as may be otherwise provided herein, no annuity, pension or other benefit shall be paid to a policeman or widow, based upon any salary paid by virtue of a temporary appointmen…

(40 ILCS 5/5-217) (from Ch. 108 1/2, par. 5-217) Sec. 5-217. Policemen in territory annexed. Whenever any territory is annexed to the city, any person then employed as a policeman in the annexed territory who is employed by the city on the date of annexation as a policeman shall …

(40 ILCS 5/5-218) (from Ch. 108 1/2, par. 5-218) Sec. 5-218. Annuities, etc. - Exempt. All pensions, annuities, refunds or disability benefits granted under this Article, and every portion thereof, are exempt from attachment or garnishment process and shall not be seized, taken, …

(40 ILCS 5/5-219) (from Ch. 108 1/2, par. 5-219) Sec. 5-219. Park Policemen's Annuity Fund Act superseded. From January 1, 1960, the fund herein provided for shall supersede and take the place of the Park Policemen's Annuity Fund established under the Park Policemen's Annuity Act…