TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE
SUBCHAPTER aaa: PENSIONS
PART 4440 IRS QUALIFICATION STATUS REQUIREMENTS FOR ARTICLE 3 POLICE PENSION FUNDS
SECTION 4440.120 BASIC 415 LIMITATIONS


 

Section 4440.120  Basic 415 Limitations

 

Notwithstanding any other provisions to the contrary, and pursuant to 40 ILCS 5/1-116, the member contributions made to, and retirement benefits paid from, a pension fund shall be limited to such extent as may be necessary to conform to the requirements of section 415 of the Internal Revenue Code, for a qualified pension plan.