Chapter 40, PENSIONS

(40 ILCS 5/8-167) (from Ch. 108 1/2, par. 8-167) Sec. 8-167. 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 An employee who has withdrawn as a refund the amounts credited for annuity purposes, and who (i) re-enters service of the employer and serves for periods comprising at least 90 days after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 date…

(40 ILCS 5/8-168) (from Ch. 108 1/2, par. 8-168) Sec. 8-168. 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, and …

(40 ILCS 5/8-169) (from Ch. 108 1/2, par. 8-169) Sec. 8-169. Refund of widow's annuity deductions. When a male employee is (1) unmarried when he attains age 65, (2) married at age 65, and subsequently becomes a widower while still in service, or (3) unmarried upon withdrawal befo…

(40 ILCS 5/8-169.1) (from Ch. 108 1/2, par. 8-169.1) Sec. 8-169.1. Refund of salary deductions to widow. If a male employee with less than 20 years of service dies while in the service after attaining age 65 and leaves a widow eligible for widow's annuity who does not qualify for…

(40 ILCS 5/8-170) (from Ch. 108 1/2, par. 8-170) Sec. 8-170. Refunds - When paid to beneficiary, children or estate. Whenever the accumulations including interest credited thereon to the account of a deceased employee from employee contributions for annuity purposes, and from emp…

(40 ILCS 5/8-171) (from Ch. 108 1/2, par. 8-171) Sec. 8-171. Refund 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 his accumulated contributions for annuity p…

(40 ILCS 5/8-172) (from Ch. 108 1/2, par. 8-172) Sec. 8-172. Refunds - Transfer of city contributions. Whenever any amount is refunded as provided in Sections 8-168 and 8-169, except in the case of a male employee who becomes a widower while in service after he becomes age 65, th…

(40 ILCS 5/8-172.1) Sec. 8-172.1. Transfer of city contributions for paramedics. (a) Municipality credits computed and credited under this Article 8 for all persons who (1) accumulated service credit in this Article 8 fund for service as a paramedic, (2) have terminated that Arti…

(40 ILCS 5/8-173) (from Ch. 108 1/2, par. 8-173) Sec. 8-173. 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 a rate that will produce a sum which, when a…

(40 ILCS 5/8-174) (from Ch. 108 1/2, par. 8-174) Sec. 8-174. Contributions for age and service annuities for present employees and future 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 July 1, 1953, 5%; …

(40 ILCS 5/8-174.1) (from Ch. 108 1/2, par. 8-174.1) Sec. 8-174.1. Employer contributions on behalf of employees. (a) The employer may make and may incur an obligation to make contributions on behalf of its employees in an amount not to exceed the employee contributions required …

(40 ILCS 5/8-175) (from Ch. 108 1/2, par. 8-175) Sec. 8-175. Additional credits-Public school employees. The board shall ascertain the contributions of each employee who on June 30, 1923, was a contributor to any municipal pension fund then in operation in the city under the Publ…

(40 ILCS 5/8-176) (from Ch. 108 1/2, par. 8-176) Sec. 8-176. Additional credits-To July 1, 1923. The board shall also ascertain the service rendered by each present employee who did not attain age 65 prior to July 1, 1923, and the service rendered by each future entrant between t…

(40 ILCS 5/8-177) (from Ch. 108 1/2, par. 8-177) Sec. 8-177. Additional credits-To July 1, 1935. The board shall also ascertain the service rendered by each employee who was employed by the board on June 30, 1935, between the day before the effective date and July 1, 1935, or the…

(40 ILCS 5/8-178) (from Ch. 108 1/2, par. 8-178) Sec. 8-178. Credit-Employees in certain other superseded funds. Every employee who, on December 31, 1959, was a contributor to an annuity and benefit fund in the city under the Court and Law Department Employee's Annuity Act, or un…

(40 ILCS 5/8-178.1) (from Ch. 108 1/2, par. 8-178.1) Sec. 8-178.1. Credit - Employees in superseded Public Library Employes' Pension Fund. Every employee who, on December 31, 1965, was a contributor and participant in the fund in operation in the city on such date created under a…

(40 ILCS 5/8-178.2) (from Ch. 108 1/2, par. 8-178.2) Sec. 8-178.2. Credit-Employees in superseded House of Correction Employees' Pension Fund. Every employee who, on December 31, 1968, was a contributor and participant in the fund in operation in the city on such date created und…

(40 ILCS 5/8-179) (from Ch. 108 1/2, par. 8-179) Sec. 8-179. Additional credit-Present employees. The board shall also ascertain the service rendered by each present employee who attained age 65 subsequent to the day before the effective date and prior to July 1, 1923, between th…

(40 ILCS 5/8-180) (from Ch. 108 1/2, par. 8-180) Sec. 8-180. Additional contributions and credits-All employees. Any employee in service on July 1, 1947 may elect to make additional contributions while in service which shall not exceed 7/13 of the sum accumulated on July 1, 1947,…

(40 ILCS 5/8-180.1) (from Ch. 108 1/2, par. 8-180.1) Sec. 8-180.1. Credit for service as counsel of the Chicago Welfare Administration. Any person who shall have rendered service before 1941 as special corporation counsel of the Chicago Welfare Administration, for which service n…

(40 ILCS 5/8-180.2) (from Ch. 108 1/2, par. 8-180.2) Sec. 8-180.2. Any person who has at least 8 years of service credit in the Fund may establish service credit in the Fund for any period during which he served as Executive Director of the Chicago Land Clearance Commission, Exec…

(40 ILCS 5/8-181) (from Ch. 108 1/2, par. 8-181) Sec. 8-181. Interest credits-All employees. Amounts credited for age and service and prior service annuity shall be improved by interest at the effective rate during the time thereafter an employee is in service until his annuity i…

(40 ILCS 5/8-182) (from Ch. 108 1/2, par. 8-182) Sec. 8-182. Contributions for widow's annuity for widows of present employees and future entrants. (a) Beginning on the effective date, 1%, and from and after January 1, 1966, 1 1/2% of each payment of salary shall be contributed b…

(40 ILCS 5/8-182.1) (from Ch. 108 1/2, par. 8-182.1) Sec. 8-182.1. 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 credit…

(40 ILCS 5/8-183) (from Ch. 108 1/2, par. 8-183) Sec. 8-183. Additional credits - widow's annuities - public school employees. (a) Each married male present employee who on June 30, 1923, was a contributor to a municipal pension fund in the city under the Public School Employees'…

(40 ILCS 5/8-184) (from Ch. 108 1/2, par. 8-184) Sec. 8-184. Additional credit-Widow's annuity-Retirement board employees. Each male employee who on June 30, 1935 was an employee of the board, shall be credited with 1 3/4% of his annual salary during his service between the day b…

(40 ILCS 5/8-185) (from Ch. 108 1/2, par. 8-185) Sec. 8-185. Widow's annuity credit-All employees in certain other superseded funds. A male employee who, on December 31, 1959, was a contributor to an annuity and benefit fund in the city under the Court and Law Department Employee…

(40 ILCS 5/8-185.1) (from Ch. 108 1/2, par. 8-185.1) Sec. 8-185.1. Widow's annuity credit - Employees in superseded Public Library Employes' Fund. A male employee who, on December 31, 1965 was a contributor and participant in the fund in operation in the city on such date created…

(40 ILCS 5/8-185.2) (from Ch. 108 1/2, par. 8-185.2) Sec. 8-185.2. Widow's annuity credit-Employees in superseded House of Correction Employee's Pension Fund. A male employee who, on December 31, 1968 was a contributor and participant in the fund in operation in the city on such …

(40 ILCS 5/8-186) (from Ch. 108 1/2, par. 8-186) Sec. 8-186. Widow's annuity-Interest credits-All employees. Amounts credited for widow's annuity and for widow's prior service annuity shall be improved by interest at the effective rate during the time thereafter an employee is in…

(40 ILCS 5/8-187) (from Ch. 108 1/2, par. 8-187) Sec. 8-187. Contributions by city for duty disability benefit. In lieu of all amounts ordinarily contributed by an employee and the city for age and service annuity, and widows' annuity, the city shall contribute sums equal to such…

(40 ILCS 5/8-188) (from Ch. 108 1/2, par. 8-188) Sec. 8-188. 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 in …

(40 ILCS 5/8-189) (from Ch. 108 1/2, par. 8-189) Sec. 8-189. Contributions by city for prior service annuities and pensions under former acts, and for other purposes. The city shall contribute annually, from the sum produced by the tax levy herein authorized, all sums required fo…

(40 ILCS 5/8-190) (from Ch. 108 1/2, par. 8-190) Sec. 8-190. 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, the…

(40 ILCS 5/8-191) (from Ch. 108 1/2, par. 8-191) Sec. 8-191. 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 th…

(40 ILCS 5/8-192) (from Ch. 108 1/2, par. 8-192) Sec. 8-192. Board created. A board of 5 members shall constitute a Board of Trustees authorized to carry out the provisions of this Article. The board shall be known as the Retirement Board of the Municipal Employees', Officers', a…

(40 ILCS 5/8-193) (from Ch. 108 1/2, par. 8-193) Sec. 8-193. Board elections. 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 next expires, for the election…

(40 ILCS 5/8-194) (from Ch. 108 1/2, par. 8-194) Sec. 8-194. Board vacancy. A vacancy in the membership of the board 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 until a person qualified as herei…

(40 ILCS 5/8-195) (from Ch. 108 1/2, par. 8-195) Sec. 8-195. 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 and a recording secretary who shall serve, r…

(40 ILCS 5/8-196) (from Ch. 108 1/2, par. 8-196) Sec. 8-196. Board meetings. The board shall hold regular meetings in the months of March, June, September and December annually and special meetings as it deems necessary. A majority of the members shall constitute a quorum for the…

(40 ILCS 5/8-197) (from Ch. 108 1/2, par. 8-197) Sec. 8-197. Board powers and duties. The board shall have the powers and duties stated in Sections 8-198 to 8-209, inclusive, in addition to such other powers and duties provided in this Article. (Source: Laws 1963, p. 161.)

(40 ILCS 5/8-198) (from Ch. 108 1/2, par. 8-198) Sec. 8-198. 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 5/8-199) (from Ch. 108 1/2, par. 8-199) Sec. 8-199. To notify of deductions. To notify the city comptroller and the Board of Education of the city and the chief clerk of the board of the deductions to be made from the salaries of employees. (Source: P.A. 81-1536.)

(40 ILCS 5/8-200) (from Ch. 108 1/2, par. 8-200) Sec. 8-200. 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 5/8-201) (from Ch. 108 1/2, par. 8-201) Sec. 8-201. 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 deem…

(40 ILCS 5/8-201.1) (from Ch. 108 1/2, par. 8-201.1) Sec. 8-201.1. 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 re…

(40 ILCS 5/8-202) (from Ch. 108 1/2, par. 8-202) Sec. 8-202. 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 5/8-203) (from Ch. 108 1/2, par. 8-203) Sec. 8-203. 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 the fund, including, …

(40 ILCS 5/8-204) (from Ch. 108 1/2, par. 8-204) Sec. 8-204. To determine service credits. To require each employee to file a statement concerning service rendered the employer, the Retirement Board, and the Board of Trustees of any municipal pension fund as defined in this Artic…

(40 ILCS 5/8-205) (from Ch. 108 1/2, par. 8-205) Sec. 8-205. 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's p…