Chapter 40 — PENSIONS

(40 ILCS 5/6-165.1) (from Ch. 108 1/2, par. 6-165.1) Sec. 6-165.1. The employer may pick up the employee contributions required by Sections 6-143.1, 6-152, 6-164, 6-166, 6-167, 6-168 and 6-170 for salary earned after December 31, 1981. If employee contributions are not picked up,…

(40 ILCS 5/6-165.2) Sec. 6-165.2. Funding obligation. (a) Beginning January 1, 2016, the city shall be obligated to contribute to the Fund in each fiscal year an amount not less than the amount determined annually under subsection (a) of Section 6-165 of this Code. Notwithstandin…

(40 ILCS 5/6-166) (from Ch. 108 1/2, par. 6-166) Sec. 6-166. Contributions for age and service annuities or Tier 2 monthly retirement annuities for present employees and future entrants. (a) After the effective date and prior to July 1, 1953, 3 1/2%, and after June 30, 1953, and …

(40 ILCS 5/6-167) (from Ch. 108 1/2, par. 6-167) Sec. 6-167. Contributions for widow's annuity and Tier 2 surviving spouse's annuity. Beginning on the effective date and prior to September 1, 1957, 1% of each payment of salary of not more than $3,000 of each employee and beginnin…

(40 ILCS 5/6-168) (from Ch. 108 1/2, par. 6-168) Sec. 6-168. Contributions for death benefit. To defray the cost of the ordinary death benefit, each fireman in service on or after January 1, 1962, shall make contributions in addition to the contributions otherwise provided in thi…

(40 ILCS 5/6-169) (from Ch. 108 1/2, par. 6-169) Sec. 6-169. In lieu of salary deductions for annuity purposes, the city shall contribute sums equal to such amounts for any period during which a fireman received duty disability benefit or occupational disease disability benefit. …

(40 ILCS 5/6-170) (from Ch. 108 1/2, par. 6-170) Sec. 6-170. Contributions by city and firemen for ordinary disability benefits. The city shall contribute all amounts ordinarily contributed by it for annuity purposes for any fireman receiving ordinary disability benefit and the f…

(40 ILCS 5/6-171) (from Ch. 108 1/2, par. 6-171) Sec. 6-171. Contributions by city for certain annuities. (a) Each city shall contribute annually, from the sum produced by tax levy herein authorized, all sums required for the purposes of this Article, other than those stated in t…

(40 ILCS 5/6-172) (from Ch. 108 1/2, par. 6-172) Sec. 6-172. Contributions by city for administration costs. Beginning September 1, 1959, the city shall contribute, the entire costs of administration of the fund from revenue derived from the taxes authorized to be levied for the …

(40 ILCS 5/6-173) (from Ch. 108 1/2, par. 6-173) Sec. 6-173. Other city contributions - Estimates. The board shall estimate the amounts required each year to be contributed by the city for all annuities, benefits and administrative expenses. All amounts shall be paid annually by …

(40 ILCS 5/6-174) (from Ch. 108 1/2, par. 6-174) Sec. 6-174. 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 Firemen's Annuity and Benefit Fun…

(40 ILCS 5/6-175) (from Ch. 108 1/2, par. 6-175) Sec. 6-175. Board elections. The regular elections for members of the board shall be held by mail. The board shall designate not less than 2 clerks of election to conduct the election. The board shall furnish the clerks of election…

(40 ILCS 5/6-176) (from Ch. 108 1/2, par. 6-176) Sec. 6-176. Vacancy on board. A vacancy on the board owing to death, resignation or any other cause, shall be filled as follows: if the vacancy is that of an ex-officio member, the mayor of the city shall appoint a person to serve …

(40 ILCS 5/6-177) (from Ch. 108 1/2, par. 6-177) Sec. 6-177. As soon as possible after the board membership is first completed, the board shall meet and from among its members elect by a majority vote of the members who vote upon the question, a president, a vice president, and a…

(40 ILCS 5/6-178) (from Ch. 108 1/2, par. 6-178) Sec. 6-178. Board meetings. The board shall hold regular meetings in each month and such other meetings as it deems necessary. A majority of the members shall constitute a quorum for the transaction of business at any meeting; prov…

(40 ILCS 5/6-179) (from Ch. 108 1/2, par. 6-179) Sec. 6-179. Board's powers and duties. The board shall have the powers and duties stated in Section 6-180 to 6-191.1, inclusive, in addition to the other powers and duties provided in this Article. (Source: P.A. 99-793, eff. 8-12-1…

(40 ILCS 5/6-180) (from Ch. 108 1/2, par. 6-180) Sec. 6-180. 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 5/6-181) (from Ch. 108 1/2, par. 6-181) Sec. 6-181. To notify comptroller of deductions. To notify the city comptroller of the amounts or percentages of salary to be deducted from the salaries of firemen and paid into the fund. (Source: P.A. 81-1536.)

(40 ILCS 5/6-182) (from Ch. 108 1/2, par. 6-182) Sec. 6-182. 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 5/6-183) (from Ch. 108 1/2, par. 6-183) Sec. 6-183. 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 1-113 shall be dee…

(40 ILCS 5/6-183.1) Sec. 6-183.1. 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 loan the Fund shall retain the righ…

(40 ILCS 5/6-184) (from Ch. 108 1/2, par. 6-184) Sec. 6-184. 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 5/6-185) (from Ch. 108 1/2, par. 6-185) Sec. 6-185. To authorize payments. To authorize the payment of any annuity, pension or benefit granted under this Article, or under any other Act relating to firemen's pensions, heretofore in effect in the city which has been super…

(40 ILCS 5/6-186) (from Ch. 108 1/2, par. 6-186) Sec. 6-186. To require statements and determine service credits. To require each fireman, including those on vacation and on leave of absence to file a statement, in such form as the board directs, concerning service rendered prior…

(40 ILCS 5/6-187) (from Ch. 108 1/2, par. 6-187) Sec. 6-187. 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 5/6-188) (from Ch. 108 1/2, par. 6-188) Sec. 6-188. 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 5/6-189) (from Ch. 108 1/2, par. 6-189) Sec. 6-189. To subpoena witnesses. To compel witnesses to attend and testify before it upon any matter concerning the fund, and, in its discretion, allow fees not in excess of $6 to any such witness other than a fireman for attenda…

(40 ILCS 5/6-190) (from Ch. 108 1/2, par. 6-190) Sec. 6-190. To appoint employees. To appoint such actuarial, medical, legal, clerical or other employees as may be necessary. The board shall develop procedures for obtaining, by contract or employment, any necessary professional a…

(40 ILCS 5/6-190.1) (from Ch. 108 1/2, par. 6-190.1) Sec. 6-190.1. To have a budget. The board shall adopt an annual budget at its regular January meeting. (Source: P.A. 86-273.)

(40 ILCS 5/6-191) (from Ch. 108 1/2, par. 6-191) Sec. 6-191. To make rules. To make rules and regulations necessary for the administration of the fund. (Source: Laws 1963, p. 161.)

(40 ILCS 5/6-191.1) Sec. 6-191.1. To reproduce records. To have any records kept by the board photographed, microfilmed, or digitally or electronically reproduced in accordance with the Local Records Act. The photographs, microfilm, and digital and electronic reproductions shall …

(40 ILCS 5/6-192) (from Ch. 108 1/2, par. 6-192) Sec. 6-192. 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 which become due and payable within the followi…

(40 ILCS 5/6-193) (from Ch. 108 1/2, par. 6-193) Sec. 6-193. 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 5/6-194) (from Ch. 108 1/2, par. 6-194) Sec. 6-194. Expense reserve. Amounts contributed by the city for cost of administration shall be credited to this reserve. All expenses of administration shall be charged to this reserve. (Source: Laws 1963, p. 161.)

(40 ILCS 5/6-195) (from Ch. 108 1/2, par. 6-195) Sec. 6-195. City contribution reserve. All amounts which the city contributes for age and service annuity, widow's and supplemental annuity, except those contributed in lieu of deductions from salary of any fireman who receives dut…

(40 ILCS 5/6-196) (from Ch. 108 1/2, par. 6-196) Sec. 6-196. Salary deduction reserve. The following amounts shall be credited to this reserve: (1) Amounts deducted from salaries of firemen for age and service annuity and widow's annuity; (2) amounts contributed by the city for a…

(40 ILCS 5/6-197) (from Ch. 108 1/2, par. 6-197) Sec. 6-197. 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 5/6-198) (from Ch. 108 1/2, par. 6-198) Sec. 6-198. 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 5/6-199) (from Ch. 108 1/2, par. 6-199) Sec. 6-199. Child's annuity reserve. Amounts contributed by the city for child's annuities shall be credited to this reserve and all such annuities shall be charged to it. (Source: Laws 1963, p. 161.)

(40 ILCS 5/6-200) (from Ch. 108 1/2, par. 6-200) Sec. 6-200. Duty disability reserve. Amounts contributed by the city for duty disability benefit, child's disability benefit, and compensation annuity shall be credited to this reserve, and all such benefits and annuities shall be …

(40 ILCS 5/6-201) (from Ch. 108 1/2, par. 6-201) Sec. 6-201. Ordinary disability reserve. Amounts contributed by the city, and all amounts deducted from the salaries of firemen for ordinary disability benefits shall be credited to this reserve, and all such benefits shall be char…

(40 ILCS 5/6-202) (from Ch. 108 1/2, par. 6-202) Sec. 6-202. Gift reserve. All money or property received by the board for any purposes of the fund under any law other than this law, or as gifts, grants, or bequests or in any manner other than as provided in this Article, shall b…

(40 ILCS 5/6-203) (from Ch. 108 1/2, par. 6-203) Sec. 6-203. Investment and interest reserve. All gains from investments and all interest earnings shall be credited to the investment and interest reserve. All losses from investments shall be charged to this reserve. From this res…

(40 ILCS 5/6-204) (from Ch. 108 1/2, par. 6-204) Sec. 6-204. Death benefit reserve. Amounts contributed by firemen and the city for ordinary death benefits shall be credited to this reserve and all such benefits shall be charged to this reserve. At the close of each fiscal year, …

(40 ILCS 5/6-205) (from Ch. 108 1/2, par. 6-205) Sec. 6-205. Automatic increase reserve. Amounts contributed by firemen and the city to provide the 1 1/2% retirement annuity increments as provided in Section 6-164, together with interest allocations, shall be credited to this res…

(40 ILCS 5/6-206) (from Ch. 108 1/2, par. 6-206) Sec. 6-206. Deficiencies in reserves. If at any time 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 (either one of…

(40 ILCS 5/6-207) (from Ch. 108 1/2, par. 6-207) Sec. 6-207. Treasurer of fund. The city treasurer of the city is ex officio, the treasurer and custodian of the fund and shall furnish the board a bond of such amount as it designates, which bond shall indemnify the board against a…

(40 ILCS 5/6-208) (from Ch. 108 1/2, par. 6-208) Sec. 6-208. Attorney. The chief legal officer of the city is ex officio, the legal advisor of and attorney for the board. The detailed legal work necessary to the proper administration of the fund shall be performed by a licensed a…

(40 ILCS 5/6-209) (from Ch. 108 1/2, par. 6-209) Sec. 6-209. In computing the service rendered by a fireman prior to the effective date, the following periods shall be counted, in addition to all periods during which he performed the duties of his position, as periods of service …

(40 ILCS 5/6-210) (from Ch. 108 1/2, par. 6-210) Sec. 6-210. Credit allowed for service in police department. Service rendered by a fireman, as a regularly appointed and sworn policeman of the city shall be included, for the purposes of this Article, as if such service were rende…