(40 ILCS 5/11-205)
(from Ch. 108 1/2, par. 11-205)
Prior service annuity reserve.
Amounts contributed by the city for prior service annuity, widow's prior
service annuity and minimum annuities, shall be credited to this reserve.
Prior service and widow's prior service annuities payable under this
Article and that part of any minimum annuity which is in excess of the age
and service and prior service annuity shall be charged to this reserve.
If the balance of the investment and interest reserve is not sufficient
to permit a transfer from that reserve to the annuity payment reserve to
make the credit balance of the annuity payment reserve equal to the
liabilities chargeable thereto (including the present values of all
annuities entered upon or fixed and of all annuities not entered upon),
amounts necessary for such purpose shall be transferred from this reserve
to the investment and interest reserve.
(Source: Laws 1963, p. 161.)