§ 40 ILCS 5/7-101 Creation of fund
§ 40 ILCS 5/7-102 Purpose
§ 40 ILCS 5/7-103 Terms defined
§ 40 ILCS 5/7-104 Fund
§ 40 ILCS 5/7-105 “Municipality”: A city, village, incorporated town, county, township; …
§ 40 ILCS 5/7-106 Participating municipality
§ 40 ILCS 5/7-107 Instrumentality
§ 40 ILCS 5/7-108 “Participating Instrumentality”
§ 40 ILCS 5/7-109 Employee
§ 40 ILCS 5/7-109.1 “Seasonal Employee”: An employee whose position normally requires …
§ 40 ILCS 5/7-109.2 “Intermittent Employee”: An employee, whose position normally …
§ 40 ILCS 5/7-109.3 “Sheriff’s Law Enforcement Employees”
§ 40 ILCS 5/7-109.4 Tier 1 regular employee
§ 40 ILCS 5/7-109.5 Tier 2 regular employee
§ 40 ILCS 5/7-110 Participating employee
§ 40 ILCS 5/7-111 “Prior Service”: The period beginning on the day a participating …
§ 40 ILCS 5/7-111.5 “Omitted service”: The period of service with a participating …
§ 40 ILCS 5/7-112 “Current Service”: The period beginning on the day an employee first …
§ 40 ILCS 5/7-113 “Creditable Service”: All periods of prior service or current service …
§ 40 ILCS 5/7-114 Earnings
§ 40 ILCS 5/7-115 Rate of earnings
§ 40 ILCS 5/7-116 “Final rate of earnings”: (a) For …
§ 40 ILCS 5/7-117 Annuitant
§ 40 ILCS 5/7-118 “Beneficiary”
§ 40 ILCS 5/7-119 Annuity
§ 40 ILCS 5/7-120 Board
§ 40 ILCS 5/7-121 “Governing body”: (a) the city council in cities; (b) the board of …
§ 40 ILCS 5/7-122 Effective date
§ 40 ILCS 5/7-123 Effective rate of interest
§ 40 ILCS 5/7-124 Prescribed rate of interest
§ 40 ILCS 5/7-125 Federal Social Security Act
§ 40 ILCS 5/7-126 Federal Insurance Contributions Act
§ 40 ILCS 5/7-127 Social Security Enabling Act
§ 40 ILCS 5/7-128 State agency
§ 40 ILCS 5/7-129 Covered municipalities and participating instrumentalities
§ 40 ILCS 5/7-130 Covered employee
§ 40 ILCS 5/7-132 Municipalities, instrumentalities and participating instrumentalities …
§ 40 ILCS 5/7-132.1 Towns – Election to participate
§ 40 ILCS 5/7-132.2 Regional office of education
§ 40 ILCS 5/7-132.3 The EDC Foundation of Chicago
§ 40 ILCS 5/7-134 Municipality referendum and notice of election to participate. (a) A …
§ 40 ILCS 5/7-135 Authorized agents
§ 40 ILCS 5/7-135.5 Required public posting of information by the Fund
§ 40 ILCS 5/7-136 Municipalities and participating instrumentalities covered under the …
§ 40 ILCS 5/7-137 Participating and covered employees
§ 40 ILCS 5/7-137.1 Elected officials
§ 40 ILCS 5/7-137.2 Participation by elected members of county boards
§ 40 ILCS 5/7-138 Employees covered under the Federal Social Security Act and effective dates
§ 40 ILCS 5/7-139 Credits and creditable service to employees
§ 40 ILCS 5/7-139.1 General Assembly transfers and credits
§ 40 ILCS 5/7-139.1a Transfer from Article 3
§ 40 ILCS 5/7-139.2 Validation of service credits
§ 40 ILCS 5/7-139.3 Validation of service credits
§ 40 ILCS 5/7-139.4 Termination of participation as an employee
§ 40 ILCS 5/7-139.5 (a) Persons otherwise required or eligible to participate in the Fund …
§ 40 ILCS 5/7-139.6 Transfer of creditable service to Article 8, 9 or 13 fund
§ 40 ILCS 5/7-139.8 Transfer to Article 14 System
§ 40 ILCS 5/7-139.10 Transfer to Article 4 pension fund. A person who has elected under …
§ 40 ILCS 5/7-139.12 Transfer of creditable service to Article 14
§ 40 ILCS 5/7-139.14 Transfer to Article 3 pension fund
§ 40 ILCS 5/7-141 Retirement annuities; conditions
§ 40 ILCS 5/7-141.1 Early retirement incentive
§ 40 ILCS 5/7-142 Retirement annuities – Amount
§ 40 ILCS 5/7-142.1 Sheriff’s law enforcement employees
§ 40 ILCS 5/7-143 Retirement annuities-Reduction
§ 40 ILCS 5/7-144 Retirement annuities; suspended during employment
§ 40 ILCS 5/7-144.2 Incremental retirement annuity
§ 40 ILCS 5/7-144.3 Supplemental benefit payment
§ 40 ILCS 5/7-145 Reversionary annuities
§ 40 ILCS 5/7-145.1 Alternative annuity for county officers
§ 40 ILCS 5/7-145.2 Alternative survivor’s benefits for survivors of county officers. In …
§ 40 ILCS 5/7-146 Temporary disability benefits – Eligibility
§ 40 ILCS 5/7-147 Temporary disability benefits – Commencement and duration
§ 40 ILCS 5/7-149 Temporary disability benefits-Periodic checks
§ 40 ILCS 5/7-150 Total and permanent disability benefits – Eligibility
§ 40 ILCS 5/7-151 Total and permanent disability benefits – Commencement and duration. …
§ 40 ILCS 5/7-152 Disability benefits – Amount
§ 40 ILCS 5/7-153 Total and permanent disability benefits; periodic checks
§ 40 ILCS 5/7-154 Surviving spouse annuities – Eligibility
§ 40 ILCS 5/7-155 Surviving spouse annuities-commencement
§ 40 ILCS 5/7-156 Surviving spouse annuities – amount
§ 40 ILCS 5/7-157 Surviving spouse annuities – marriage to terminate
§ 40 ILCS 5/7-158 Surviving spouse annuities – Options
§ 40 ILCS 5/7-159 Surviving spouse annuity – refund of survivor credits
§ 40 ILCS 5/7-160 Child annuities-eligibility
§ 40 ILCS 5/7-161 Child annuities-commencement
§ 40 ILCS 5/7-162 Child annuities-amount
§ 40 ILCS 5/7-163 Death benefits-eligibility
§ 40 ILCS 5/7-164 Death benefits – Amount
§ 40 ILCS 5/7-165 Beneficiary annuities
§ 40 ILCS 5/7-166 Separation benefits – eligibility
§ 40 ILCS 5/7-167 Separation benefits – Payment
§ 40 ILCS 5/7-168 Separation benefits – Amount
§ 40 ILCS 5/7-169 Separation benefits; repayments
§ 40 ILCS 5/7-169.1 Repayment of refund obtained from superseded funds
§ 40 ILCS 5/7-170 Federal Social Security coverage
§ 40 ILCS 5/7-171 Finance; taxes
§ 40 ILCS 5/7-172 Contributions by participating municipalities and participating instrumentalities
§ 40 ILCS 5/7-172.1 Actions to enforce payments by municipalities and instrumentalities
§ 40 ILCS 5/7-172.2 In addition to the payments otherwise required by this Article, each …
§ 40 ILCS 5/7-173 Contributions by employees
§ 40 ILCS 5/7-173.1 Additional contribution by sheriff’s law enforcement employees
§ 40 ILCS 5/7-173.2 Pickup of employee contributions
§ 40 ILCS 5/7-174 Board created
§ 40 ILCS 5/7-174.5 Leaves of absence for trustees
§ 40 ILCS 5/7-175 Board elections
§ 40 ILCS 5/7-175.1 Election of employee and annuitant trustees
§ 40 ILCS 5/7-176 Board officers
§ 40 ILCS 5/7-177 Board meetings
§ 40 ILCS 5/7-178 Board powers and duties
§ 40 ILCS 5/7-179 To authorize and suspend annuities
§ 40 ILCS 5/7-180 To prepare and approve budget
§ 40 ILCS 5/7-181 To subpoena witnesses
§ 40 ILCS 5/7-182 To authorize municipality contribution rates and adopt actuarial tables and interest rates
§ 40 ILCS 5/7-183 To request information
§ 40 ILCS 5/7-184 To determine prior service
§ 40 ILCS 5/7-185 To establish offices
§ 40 ILCS 5/7-186 To appoint executive director
§ 40 ILCS 5/7-187 To appoint actuary
§ 40 ILCS 5/7-188 To appoint investment counsel
§ 40 ILCS 5/7-189 To obtain additional services
§ 40 ILCS 5/7-190 To fix compensation of employees
§ 40 ILCS 5/7-191 To have accounts audited
§ 40 ILCS 5/7-192 To submit annual statements
§ 40 ILCS 5/7-193 To provide individual statements
§ 40 ILCS 5/7-194 To accept gifts
§ 40 ILCS 5/7-195 To make investments
§ 40 ILCS 5/7-195.1 To establish and maintain a revolving account
§ 40 ILCS 5/7-196 To keep data
§ 40 ILCS 5/7-197 To keep permanent records
§ 40 ILCS 5/7-197.1 To reproduce records
§ 40 ILCS 5/7-198 To make rules
§ 40 ILCS 5/7-199 To appoint committees
§ 40 ILCS 5/7-199.1 To administer a joint group accident and health insurance program in accordance with this Section
§ 40 ILCS 5/7-199.2 To determine unfunded liability
§ 40 ILCS 5/7-199.3 To establish and administer deferred compensation and tax-deferred …
§ 40 ILCS 5/7-200 To carry on other duties
§ 40 ILCS 5/7-201 The assets of the fund in excess of the amount of cash required for …
§ 40 ILCS 5/7-201.1 Participation in commingled investment funds-Transfer of investment functions and securities
§ 40 ILCS 5/7-202 Accounts
§ 40 ILCS 5/7-203 Employee reserves
§ 40 ILCS 5/7-204 Municipality reserves
§ 40 ILCS 5/7-205 Reserves for annuities
§ 40 ILCS 5/7-205.1 Reserves for Disability Benefits
§ 40 ILCS 5/7-206 Death Reserve
§ 40 ILCS 5/7-207.1 Reserve For Variation In Benefit Payments
§ 40 ILCS 5/7-208 Earnings and experience variation reserve
§ 40 ILCS 5/7-209 Earnings and Interest
§ 40 ILCS 5/7-210 Funds
§ 40 ILCS 5/7-211 Authorizations
§ 40 ILCS 5/7-212 Executive director
§ 40 ILCS 5/7-213 Actuary
§ 40 ILCS 5/7-214 Custodian
§ 40 ILCS 5/7-215 Retirement Systems Reciprocal Act
§ 40 ILCS 5/7-217 Payment of benefits and assignments
§ 40 ILCS 5/7-218 Compulsory retirement
§ 40 ILCS 5/7-219 Felony conviction
§ 40 ILCS 5/7-220 Administrative review
§ 40 ILCS 5/7-221 General provisions and savings clause
§ 40 ILCS 5/7-222 Reduction of disability and survivor’s benefits on account of …
§ 40 ILCS 5/7-223 The amendments to Sections 7-137, 7-146, 7-147, 7-150 and 7-151 of …
§ 40 ILCS 5/7-224 Section 415 limitations
§ 40 ILCS 5/7-225 Increases in earnings; pension impact statement

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Terms Used In Illinois Compiled Statutes > 40 ILCS 5 > Article 7 - Illinois Municipal Retirement Fund

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • 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.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Freedom of Information Act: A federal law that mandates that all the records created and kept by federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are those records that fall into one of nine exempted categories listed in the statute. Source: OCC
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grantor: The person who establishes a trust and places property into it.
  • Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Person under legal disability: means a person 18 years or older who (a) because of mental deterioration or physical incapacity is not fully able to manage his or her person or estate, or (b) is a person with mental illness or is a person with developmental disabilities and who because of his or her mental illness or developmental disability is not fully able to manage his or her person or estate, or (c) because of gambling, idleness, debauchery or excessive use of intoxicants or drugs, so spends or wastes his or her estate as to expose himself or herself or his or her family to want or suffering. See Illinois Compiled Statutes 5 ILCS 70/1.06
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Statute: A law passed by a legislature.
  • Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32
  • Testify: Answer questions in court.
  • Town trustees: means the members of the township board required by § 80-5 of the Township Code. See Illinois Compiled Statutes 5 ILCS 70/1.30
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Units of local government: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.28
  • Venue: The geographical location in which a case is tried.