Illinois Compiled Statutes 40 ILCS 5/11-151 – Computation of interest
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/11-151
- Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
For the computation of interest upon any sum contributed by an employee, it shall be assumed that the sum was contributed on the last day of the calendar month in which such contribution was made.