Illinois Compiled Statutes 40 ILCS 5/10-101 – Creation of fund
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In forest preserve districts, the boundaries of which are coextensive with the boundaries of a county in which an annuity and benefit fund is created and set apart and is maintained and administered for county employees under Article 9 of this Code, a forest preserve district employees’ annuity and benefit fund shall be created, set apart, maintained and administered for the employees of the forest preserve district, in the same manner as the fund created and set apart, maintained and administered for such county employees.
The fund herein created may be referred to as the fund.
The term “district” means a forest preserve district as above described.
The fund herein created may be referred to as the fund.
Terms Used In Illinois Compiled Statutes 40 ILCS 5/10-101
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
The term “district” means a forest preserve district as above described.