(40 ILCS 5/5-200)
(from Ch. 108 1/2, par. 5-200)
Salary deduction reserve.
The following amounts shall be credited to this reserve: (1) Amounts
deducted from salaries of policemen or otherwise contributed for age and
service annuity and widow's annuity; (2) amounts contributed by the city
for any such purposes for any policeman who receives duty disability
benefit in lieu of deductions from his salary; and (3) amounts
transferred to this reserve from the investment and interest reserve.
An individual account shall be kept for each policeman from
whose salary any such amount is deducted.
As such amounts are received they
shall be credited to the respective accounts of the policemen.
At least once each year, and always before any transfer from this
reserve to any other reserve is made, the sums credited shall be
improved by interest.
When the annuity for a policeman or widow is fixed or granted, the
total amount in this reserve for the purpose of the annuity and required
therefor shall be charged thereto and credited to the annuity payment
Amounts resulting from salary deductions, and amounts resulting from
contributions of the city for any policeman who receives duty disability
benefit in lieu of deduction from his salary, that are to be refunded in
accordance with the provisions of this Article, except those referred to
in Section 5-201, shall be charged to this reserve.
(Source: P.A. 81-1536.)