Illinois Compiled Statutes 40 Pensions: Article 15 - State Universities Retirement System

• Illinois Pension Code. - 40 ILCS 5, Section 15-101
  Creation of system. A retirement system is created to provide retirement annuities and other benefits for employees, as defined in this Article, and their...
• Illinois Pension Code. - 40 ILCS 5, Section 15-102
  Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 15-103 through 15-198, except when the context otherwise...
• Illinois Pension Code. - 40 ILCS 5, Section 15-103
  System. "System": The State Universities Retirement System. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-103.1
  Traditional Benefit Package. "Traditional benefit package": The defined benefit retirement program maintained under the System which includes retirement annuities payable directly from the System...
• Illinois Pension Code. - 40 ILCS 5, Section 15-103.2
  Portable Benefit Package. "Portable benefit package": The defined benefit retirement program maintained under the System which includes retirement annuities payable directly from the System...
• Illinois Pension Code. - 40 ILCS 5, Section 15-103.3
  Self-Managed Plan. "Self-managed plan": The defined contribution retirement program maintained under the System as described in Section 15-158.2. The self-managed plan also includes disability...
• Illinois Pension Code. - 40 ILCS 5, Section 15-104
  The 1941 Act. "The 1941 Act": "An Act to provide for the creation, maintenance and administration of a Retirement System for the benefit of...
• Illinois Pension Code. - 40 ILCS 5, Section 15-105
  Board. "Board": The Board of Trustees of the System. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-106
  Employer. "Employer": The University of Illinois, Southern Illinois University, Chicago State University, Eastern Illinois University, Governors State University, Illinois State University, Northeastern Illinois University, Northern...
• Illinois Pension Code. - 40 ILCS 5, Section 15-107
  Employee. (a) "Employee" means any member of the educational, administrative, secretarial, clerical, mechanical, labor or other staff of an employer whose employment is permanent and...
• Illinois Pension Code. - 40 ILCS 5, Section 15-108
  Participant. "Participant": A person participating in this system as specified in Section 15-134. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-108.1
  Tier 1 member. "Tier 1 member": A participant or an annuitant of a retirement annuity under this Article, other than a participant in the self-managed...
• Illinois Pension Code. - 40 ILCS 5, Section 15-108.2
  Tier 2 member. "Tier 2 member": A person who first becomes a participant under this Article on or after January 1, 2011, other than a...
• Illinois Pension Code. - 40 ILCS 5, Section 15-109
  Participating employee. "Participating employee": A participant who at the time is an employee. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-110
  Basic compensation. "Basic compensation": The gross basic rate of salary or wages payable by an employer, including the value of maintenance, board, living quarters,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-111
  Earnings. (a) "Earnings": An amount paid for personal services equal to the sum of the basic compensation plus extra compensation for summer teaching, overtime or...
• Illinois Pension Code. - 40 ILCS 5, Section 15-112
  Final rate of earnings. "Final rate of earnings": (a) This subsection (a) applies only to a Tier 1 member. For an employee who is paid...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113
  Service. "Service": The periods defined in Sections 15-113.1 through 15-113.9 and Section 15-113.11. (Source: P.A. 97-933, eff. 8-10-12; 97-968, eff. 8-16-12.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.1
  Service for employment with an employer defined under Section 15-106. "Service for employment with an employer defined under Section 15-106": Includes the following periods:...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.2
  Service for leaves of absence. "Service for leaves of absence" includes those periods of leaves of absence at less than 50% pay, except military...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.3
  Service for periods of military service. "Service for periods of military service": Those periods, not exceeding 5 years, during which a person served in...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.4
  Service for unused sick leave. "Service for unused sick leave": A person who first becomes a participant before the effective date of this amendatory Act...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.5
  Service for employment with other public agencies in this State. "Service for employment with other public agencies in this State" includes the following periods:...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.6
  Service for employment in public schools. "Service for employment in public schools": Includes those periods not exceeding the lesser of 10 years or 2/3 of...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.7
  Service for other public employment. "Service for other public employment": Includes those periods not exceeding the lesser of 10 years or 2/3 of the service...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.8
  Previous service with employer affiliated alumni and athletic associations and foundations. "Previous service with employer affiliated alumni and athletic associations and foundations": Includes the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.9
  Service for employment with the Illinois Mathematics and Science Academy. A participating employee who was employed by the Illinois Mathematics and Science Academy prior...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.10
  Transfer of creditable service to Article 8, 9 or 13 fund. (a) Any city officer as defined in Section 8-243.2 of this Code, any...
• Illinois Pension Code. - 40 ILCS 5, Section 15-113.11
  Service for periods of voluntary or involuntary furlough. A participant may establish creditable service and earnings credit for periods of furlough beginning on or after...
• Illinois Pension Code. - 40 ILCS 5, Section 15-114
  Normal contributions. "Normal contributions": The required contributions specified under Section 15-157 as normal contributions and amounts paid by a participant for annuity contracts assigned...
• Illinois Pension Code. - 40 ILCS 5, Section 15-115
  Additional contributions. "Additional contributions": The amounts paid by a participating employee which are specified under Section 15-157 as additional contributions. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-116
  Accumulated normal contributions. "Accumulated normal contributions": The sum of all normal contributions credited to an employee's account, together with interest thereon at the effective...
• Illinois Pension Code. - 40 ILCS 5, Section 15-117
  Accumulated additional contributions. "Accumulated additional contributions": The sum of all additional contributions credited to an employee's account, together with interest thereon at the effective...
• Illinois Pension Code. - 40 ILCS 5, Section 15-118
  Annuity. "Annuity": A series of monthly payments, payable as of the first day of each calendar month during the annuity payment period, the first...
• Illinois Pension Code. - 40 ILCS 5, Section 15-119
  Annuitant. "Annuitant": A person receiving a retirement, reversionary, survivors or beneficiary annuity or disability retirement annuity from this System. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-120
  Beneficiary; survivor annuitant under portable benefit package. "Beneficiary": The person or persons designated by the participant or annuitant in the last written designation on...
• Illinois Pension Code. - 40 ILCS 5, Section 15-121
  Additional annuity. "Additional annuity": The portion of a retirement annuity derived from accumulated additional contributions. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-122
  Reversionary annuity. "Reversionary annuity": The annuity payable to a beneficiary after the death of the annuitant as specified in Section 15-140. (Source: Laws 1963,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-123
  Beneficiary annuity. "Beneficiary annuity": The annuity payable to a beneficiary after the death of a participant or annuitant as specified in Section 15-144. (Source:...
• Illinois Pension Code. - 40 ILCS 5, Section 15-124
  Actuarial tables. "Actuarial tables": Such tabular listings of assumed rates of decrement such as death, disability, retirement and withdrawal from service, according to age...
• Illinois Pension Code. - 40 ILCS 5, Section 15-125
  "Prescribed rate of interest; effective rate of interest". (1) "Prescribed rate of interest": The rate of interest to be used in actuarial valuations and in...
• Illinois Pension Code. - 40 ILCS 5, Section 15-126
  Fiscal year. "Fiscal year": Until July 1, 1987, the period beginning on September 1 in any year, and ending on August 31 of the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-126.1
  Academic year. "Academic year": The 12-month period beginning on the first day of the fall term as determined by each employer, or if the employer...
• Illinois Pension Code. - 40 ILCS 5, Section 15-127
  Surviving spouse. "Surviving spouse": (a) The surviving wife or husband of a participant, but only if she or he (1) is the mother or...
• Illinois Pension Code. - 40 ILCS 5, Section 15-129
  Child. "Child": The child of a participant or an annuitant, including a child born out of wedlock, a stepchild who has been such for not...
• Illinois Pension Code. - 40 ILCS 5, Section 15-130
  Parent. "Parent": The mother or father of a participant or annuitant, a stepparent of a participant or an annuitant by a marriage contracted before...
• Illinois Pension Code. - 40 ILCS 5, Section 15-131
  Survivors insurance beneficiary. "Survivors insurance beneficiary": The spouse, dependent unmarried child under age 18 (under age 22 if a full-time student), unmarried child over...
• Illinois Pension Code. - 40 ILCS 5, Section 15-132
  Accumulated survivors insurance contributions. "Accumulated survivors insurance contributions": The sum of all survivors insurance contributions received from a participating employee, together with interest at...
• Illinois Pension Code. - 40 ILCS 5, Section 15-132.1
  Police officer. "Police officer": a participant who is a peace officer empowered to make arrests to protect the property, interests, students and personnel of...
• Illinois Pension Code. - 40 ILCS 5, Section 15-132.2
  Retire and retirement. A participant "retires", and his or her "retirement" begins, when his or her annuity payment period begins. (Source: P.A. 91-887, eff.
• Illinois Pension Code. - 40 ILCS 5, Section 15-133
  Employer participation. Each employer shall participate in and be subject to the provisions of this Article. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-134
  Participant. (a) Each person shall, as a condition of employment, become a participant and be subject to this Article on the date that he or...
• Illinois Pension Code. - 40 ILCS 5, Section 15-134.1
  Service calculation and adjustment. (a) In computing service, the following schedule shall govern: one month of service means a calendar month during which a...
• Illinois Pension Code. - 40 ILCS 5, Section 15-134.2
  Transfer of creditable service to the General Assembly Retirement System. (a) An active member of the General Assembly Retirement System may apply to transfer...
• Illinois Pension Code. - 40 ILCS 5, Section 15-134.3
  (a) Persons otherwise required or eligible to participate in this System who elect to continue participation in the General Assembly System under Section 2-117.1...
• Illinois Pension Code. - 40 ILCS 5, Section 15-134.4
  Transfer of creditable service to the Article 5 Pension Fund or Article 14 System. (a) An active member of the Pension Fund established under Article...
• Illinois Pension Code. - 40 ILCS 5, Section 15-134.5
  Retirement program elections. (a) All participating employees are participants under the traditional benefit package prior to January 1, 1998. Effective as of the date...
• Illinois Pension Code. - 40 ILCS 5, Section 15-135
  Retirement annuities - Conditions. (a) This subsection (a) applies only to a Tier 1 member. A participant who retires in one of the following specified...
• Illinois Pension Code. - 40 ILCS 5, Section 15-135.1
  Election to avoid application of P.A. 90-65. (a) A participant who was an employee on July 7, 1997 and retires on or after the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-136
  Retirement annuities - Amount. The provisions of this Section 15-136 apply only to those participants who are participating in the traditional benefit package or the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-136.1
  Retirement annuities - Supplemental annuity. (a) An annuitant whose status as an employee terminated before August 15, 1969 with at least 15 years of...
• Illinois Pension Code. - 40 ILCS 5, Section 15-136.2
  Early retirement without discount. A participant whose retirement annuity begins after June 1, 1981 and on or before September 1, 2002 and within six...
• Illinois Pension Code. - 40 ILCS 5, Section 15-136.3
  Minimum retirement annuity. (a) Beginning January 1, 1997, any person who is receiving a monthly retirement annuity under this Article which, after inclusion of (1)...
• Illinois Pension Code. - 40 ILCS 5, Section 15-136.4
  Retirement and Survivor Benefits Under Portable Benefit Package. (a) This Section 15-136.4 describes the form of annuity and survivor benefits available to a participant who...
• Illinois Pension Code. - 40 ILCS 5, Section 15-137
  Retirement annuities-Guarantees. This Article shall not operate to deprive any participant of eligibility for an annuity or to reduce the annuity to which a...
• Illinois Pension Code. - 40 ILCS 5, Section 15-138
  Retirement annuities-Reduction. If a participant elects to have a reversionary annuity under this Article, the retirement annuity otherwise payable shall be reduced by the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-139
  Retirement annuities; cancellation; suspended during employment. (a) If an annuitant returns to employment for an employer within 60 days after the beginning of the retirement...
• Illinois Pension Code. - 40 ILCS 5, Section 15-139.1
  Tier 2 member retirement annuities; suspended during employment. If a Tier 2 member is receiving a retirement annuity under this System and becomes a member...
• Illinois Pension Code. - 40 ILCS 5, Section 15-139.5
  Return to work by affected annuitant; notice and contribution by employer. (a) An employer who employs or re-employs a person receiving a retirement annuity from...
• Illinois Pension Code. - 40 ILCS 5, Section 15-140
  Reversionary annuities. A participant in the traditional benefit package entitled to a retirement annuity may, prior to retirement, elect to take a reduced retirement...
• Illinois Pension Code. - 40 ILCS 5, Section 15-141
  Death benefits - Death of participant. (a) The beneficiary of a participant under the traditional benefit package is entitled to a death benefit equal to...
• Illinois Pension Code. - 40 ILCS 5, Section 15-142
  Death benefits - Death of annuitant. Upon the death of an annuitant receiving a retirement annuity or disability retirement annuity, the annuitant's beneficiary shall,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-143
  Death benefits - general provisions. All death benefits shall be paid as a single cash sum. A death benefit shall be paid as soon...
• Illinois Pension Code. - 40 ILCS 5, Section 15-144
  Beneficiary annuities. This Section applies only to the death benefits of persons who became participants before August 22, 1997 (the effective date of Public...
• Illinois Pension Code. - 40 ILCS 5, Section 15-145
  Survivors insurance benefits; conditions and amounts. (a) The survivors insurance benefits provided under this Section shall be payable to the eligible survivors of a Tier...
• Illinois Pension Code. - 40 ILCS 5, Section 15-145.1
  Survivor's insurance annuities and lump sum payments for Tier 2 Members; amount. Survivor eligibility, vesting, and conditions for a survivor's insurance annuity and lump sum...
• Illinois Pension Code. - 40 ILCS 5, Section 15-146
  Survivors insurance benefits - Minimum amounts. (a) The minimum total survivors annuity payable on account of the death of a participant shall be 50% of...
• Illinois Pension Code. - 40 ILCS 5, Section 15-146.1
  Survivors insurance benefits-Maximum amounts. (a) The maximum total survivors annuity payable on account of any deceased participating employee shall be the lesser of: (1) 80%...
• Illinois Pension Code. - 40 ILCS 5, Section 15-147
  Survivors insurance benefits-Dependency conditions. A child is deemed dependent upon his or her natural or adopting father or mother if the child is living...
• Illinois Pension Code. - 40 ILCS 5, Section 15-148
  Survivors insurance benefits - General provisions. The survivors annuity is payable monthly. Any annuity due but unpaid upon the death of the annuitant, shall...
• Illinois Pension Code. - 40 ILCS 5, Section 15-149
  Determination of family status. Subject to the definitions contained in Sections 15-127 to 15-130, inclusive, in determining whether an applicant for a benefit under...
• Illinois Pension Code. - 40 ILCS 5, Section 15-150
  Disability benefits - Eligibility. A participant may be granted a disability benefit if: (1) while a participating employee, he or she becomes physically or...
• Illinois Pension Code. - 40 ILCS 5, Section 15-151
  Disability benefits - commencement. Disability benefits shall begin to accrue upon the termination of the payment of salary or sick leave benefits or the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-152
  Disability benefits - Duration. Disability benefits shall be discontinued when the earliest of the following occurs: (1) when disability ceases, (2) upon refusal of...
• Illinois Pension Code. - 40 ILCS 5, Section 15-153
  Disability benefits - Amount. The disability benefit shall be the greater of (1) 50% of the basic compensation which would have been paid had...
• Illinois Pension Code. - 40 ILCS 5, Section 15-153.1
  Disability benefits - Reduction. (a) If a participant receiving disability benefits under this Article earns compensation from any source for personal or professional services...
• Illinois Pension Code. - 40 ILCS 5, Section 15-153.2
  Disability retirement annuity. A participant whose disability benefits are discontinued under the provisions of clause (6) of Section 15-152 and who is not a participant...
• Illinois Pension Code. - 40 ILCS 5, Section 15-153.3
  Automatic increase in disability benefit. Each disability benefit payable under Section 15-150 and calculated under Section 15-153 or 15-153.2 that has not yet received...
• Illinois Pension Code. - 40 ILCS 5, Section 15-154
  Refunds. (a) A participant whose status as an employee is terminated, regardless of cause, or who has been on lay off status for more...
• Illinois Pension Code. - 40 ILCS 5, Section 15-154.1
  Maximum benefits. The combined retirement annuity, survivors insurance, death benefits, or disability benefits under this system and any other system which is, has been,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-154.2
  Waiver of service and benefits. A participant or annuitant may elect to waive all or any portion of his or her service credit and...
• Illinois Pension Code. - 40 ILCS 5, Section 15-155
  Employer contributions. (a) The State of Illinois shall make contributions by appropriations of amounts which, together with the other employer contributions from trust, federal, and...
• Illinois Pension Code. - 40 ILCS 5, Section 15-156
  Obligations of State; funding guarantees. (a) The payment of (1) the required State contributions, (2) all benefits granted under this system and (3) all expenses...
• Illinois Pension Code. - 40 ILCS 5, Section 15-157
  Employee contributions. (a) Except as provided in subsection (a-5), each participating employee shall make contributions towards the retirement benefits payable under the retirement program applicable...
• Illinois Pension Code. - 40 ILCS 5, Section 15-157.1
  Pickup of employee contributions. (a) Each employer shall pick up the employee contributions required under subsections (a), (b), and (c) of Section 15-157 for...
• Illinois Pension Code. - 40 ILCS 5, Section 15-157.5
  Use of contributions for health care subsidies. The System shall not use any contribution received by the System under this Article to provide a subsidy...
• Illinois Pension Code. - 40 ILCS 5, Section 15-158.1
  (Repealed). (Source: P.A. 87-1265. Repealed by P.A. 91-887, eff. 7-6-00.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-158.2
  Self-managed plan. (a) Purpose. The General Assembly finds that it is important for colleges and universities to be able to attract and retain the most...
• Illinois Pension Code. - 40 ILCS 5, Section 15-158.3
  Reports on cost reduction; effect on retirement at any age with 30 years of service. (a) On or before November 15, 2001 and on or...
• Illinois Pension Code. - 40 ILCS 5, Section 15-158.4
  Election of medicare coverage. (a) The System shall conduct a divided medicare coverage referendum, open to employees continuously employed by the same employer since March...
• Illinois Pension Code. - 40 ILCS 5, Section 15-159
  Board created. (a) A board of trustees constituted as provided in this Section shall administer this System. The board shall be known as the Board...
• Illinois Pension Code. - 40 ILCS 5, Section 15-160
  Board's powers and duties. The board shall have the powers and duties stated in Sections 15-161 through 15-177 in addition to the other powers...
• Illinois Pension Code. - 40 ILCS 5, Section 15-161
  To contract and act in its corporate name. To be a public corporation of this State with power to enter into contracts, accept and...
• Illinois Pension Code. - 40 ILCS 5, Section 15-162
  To hold meetings. To hold regular meetings at least quarterly in each year and special meetings at such times as the chairperson or a majority...
• Illinois Pension Code. - 40 ILCS 5, Section 15-163
  To consider applications and authorize payments. To consider and pass on all applications for annuities and benefits; to authorize the granting of annuities and...
• Illinois Pension Code. - 40 ILCS 5, Section 15-164
  To certify interest rate, to set value of allowances and to adopt actuarial tables. To certify the prescribed and effective rates of interest; to...
• Illinois Pension Code. - 40 ILCS 5, Section 15-165
  To certify amounts and submit vouchers. (a) The Board shall certify to the Governor on or before November 15 of each year until November 15,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-166
  To be custodian. To be custodian of all cash and securities belonging to the system. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-167
  To invest money. To invest the funds of the system, subject to the requirements and restrictions set forth in Sections 1A-108.5, 1-109, 1-109.1, 1-109.2, 1-110,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-167.1
  Participation in commingled investment funds-Transfer of investment functions and securities. (a) The retirement board may invest in any commingled investment fund or funds established...
• Illinois Pension Code. - 40 ILCS 5, Section 15-167.2
  To issue bonds. To borrow money and, in evidence of its obligation to repay the borrowing, to issue bonds for the purpose of financing...
• Illinois Pension Code. - 40 ILCS 5, Section 15-167.3
  (Repealed). (Source: P.A. 92-749, eff. 8-2-02. Repealed by P.A. 95-83, eff. 8-13-07.)
• Illinois Pension Code. - 40 ILCS 5, Section 15-167.4
  Eminent domain. Notwithstanding any other provision of this Code, any power granted under this Code to acquire property by condemnation or eminent domain is subject...
• Illinois Pension Code. - 40 ILCS 5, Section 15-168
  To require information. To require such information as shall be necessary for the proper operation of the system from any participant or beneficiary or from...
• Illinois Pension Code. - 40 ILCS 5, Section 15-168.1
  Testimony and the production of records. The secretary of the Board shall have the power to issue subpoenas to compel the attendance of witnesses and...
• Illinois Pension Code. - 40 ILCS 5, Section 15-168.2
  Audit of employers. Beginning August 1, 2013, the System may audit the employment records and payroll records of all employers. When the System audits an...
• Illinois Pension Code. - 40 ILCS 5, Section 15-169
  To elect officers and appoint employees. To elect officers; to appoint a secretary and treasurer; to have a seal; to employ and fix the rate...
• Illinois Pension Code. - 40 ILCS 5, Section 15-170
  To maintain records and accounts. To maintain a permanent record of all board proceedings which record shall be available for examination by any participant,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-171
  To receive, record and deposit payments. To receive all payments made to the system; to make a record thereof; and to cause all payments to...
• Illinois Pension Code. - 40 ILCS 5, Section 15-172
  To certify warrants, checks, or drafts. To provide for certification on its behalf by its secretary of all warrants, checks, or drafts upon its depository...
• Illinois Pension Code. - 40 ILCS 5, Section 15-173
  To cause actuarial analyses. To cause a general investigation to be made by a competent actuary, at least once every 5 years, of the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-174
  To have an audit. To cause an audit of the affairs of the system to be made annually by an independent certified public accountant;...
• Illinois Pension Code. - 40 ILCS 5, Section 15-175
  To provide statements. To make available to the participants and annuitants a financial statement including a summary of the report of the certified public...
• Illinois Pension Code. - 40 ILCS 5, Section 15-176
  To accept gifts. To accept any gift, grant or bequest of any money or securities; if the grantor designates cash benefits for some or...
• Illinois Pension Code. - 40 ILCS 5, Section 15-177
  To make rules. To establish by-laws; to fix the number necessary for a quorum; to set up an executive committee of its members to exercise...
• Illinois Pension Code. - 40 ILCS 5, Section 15-178
  Duties of the State Comptroller and payroll officers. The State Comptroller and employer payroll officers, in drawing warrants and checks for items of salary on...
• Illinois Pension Code. - 40 ILCS 5, Section 15-179
  Duties of Director of Central Management Services. The Director of Central Management Services in considering payroll vouchers required by "An Act in relation to...
• Illinois Pension Code. - 40 ILCS 5, Section 15-181
  Duties of employers. (a) Each employer, in preparing payroll vouchers for participating employees, shall indicate, in addition to other information: (1) the amount of...
• Illinois Pension Code. - 40 ILCS 5, Section 15-183
  Authorizations. Payment of salary as prescribed by law or as contracted by an employer shall together with the rights in the benefits provided by...
• Illinois Pension Code. - 40 ILCS 5, Section 15-184
  Undivided interest. The assets of the system shall be invested as one fund, and no particular person, group of persons or entity shall have...
• Illinois Pension Code. - 40 ILCS 5, Section 15-185
  Annuities, etc., exempt. The accumulated employee and employer contributions shall be held in trust for each participant and annuitant, and this trust shall be...
• Illinois Pension Code. - 40 ILCS 5, Section 15-186
  Fraud. Any person who knowingly makes any false statement, or falsifies or permits to be falsified any record or records of this system, in any...
• Illinois Pension Code. - 40 ILCS 5, Section 15-186.1
  Mistake in benefit. If the System mistakenly sets any benefit at an incorrect amount, it shall recalculate the benefit as soon as may be...
• Illinois Pension Code. - 40 ILCS 5, Section 15-187
  Felony conviction. None of the benefits provided under this Article shall be paid to any person who is convicted of any felony relating to...
• Illinois Pension Code. - 40 ILCS 5, Section 15-188
  Administrative review. The Administrative Review Law, and all amendments and modifications thereof, and the rules adopted pursuant thereto, shall apply to and govern all...
• Illinois Pension Code. - 40 ILCS 5, Section 15-189
  No monetary gain on investments. Except as otherwise herein provided, no member or employee of the board shall have any direct interest in the...
• Illinois Pension Code. - 40 ILCS 5, Section 15-190
  Persons under legal disability. If a person is under legal disability when any right or privilege accrues to him or her under this Article,...
• Illinois Pension Code. - 40 ILCS 5, Section 15-191
  Payment of benefits to minors. If any benefits under this Article become payable to a minor, the board may make payment (1) directly to...
• Illinois Pension Code. - 40 ILCS 5, Section 15-192
  Retirement Systems Reciprocal Act. The "Retirement Systems Reciprocal Act", being Article 20 of this Code as now enacted and hereafter amended, is hereby adopted...
• Illinois Pension Code. - 40 ILCS 5, Section 15-193
  Reinsurance. The board may at any time that it appears desirable and advantageous, contract with any recognized and solvent legal reserve life insurance company...
• Illinois Pension Code. - 40 ILCS 5, Section 15-196
  General provisions and savings clause. The provisions of Article 1 and Article 23 of this Code apply to this Article as though such provisions...
• Illinois Pension Code. - 40 ILCS 5, Section 15-197
  Savings Clause. The repeal or amendment of any Section or provision of this Article by this amendatory Act of 1984 shall not affect or...
• Illinois Pension Code. - 40 ILCS 5, Section 15-198
  Application and expiration of new benefit increases. (a) As used in this Section, "new benefit increase" means an increase in the amount of any benefit...
• Illinois Pension Code. - 40 ILCS 5, Section 15-200
  Defined contribution plan. (a) By July 1, 2015, the System shall prepare and implement a voluntary defined contribution plan for up to 5% of eligible...
• Illinois Pension Code. - 40 ILCS 5, Section 15-201
  Defined contribution plan; termination. If the defined contribution plan is terminated or becomes inoperative pursuant to law, then each participant in the plan shall automatically...

Last modified: February 18, 2015