(40 ILCS 5/5-201)
(from Ch. 108 1/2, par. 5-201)
Annuity payment reserve.
The following amounts shall be credited to this reserve: (1) amounts
transferred from the city contribution reserve and from the salary deduction
reserve for the payment of annuities which have been fixed;
(2) amounts deducted from the salary
of a policeman after the amount of
his age and service annuity has been fixed; and (3) amounts transferred
to this reserve from the investment and interest reserve.
All age and service annuities and all widow's annuities shall be
charged to this reserve. Any amount to be refunded under this Article
shall be charged to this reserve.
If a policeman whose annuity is fixed or granted withdraws from
service and thereafter re-enters service before age 63, an amount
determined in accordance with this Article shall be charged to this
reserve and credited for age and service annuity in the city
contribution reserve and the salary deduction
Such amount shall be credited in such reserves in the ratio in which the
respective amounts transferred from such reserves for age and service
annuity for the policeman bear to each other at the time his annuity was
fixed. If the wife of such policeman when he re-enters service was his
wife when annuity for his wife was fixed an amount to be determined as
provided in this Article shall be transferred from this reserve and
credited to the policeman for widow's annuity in the city contribution
reserve and the salary deduction reserve, respectively.
shall be credited in such reserve in the ratio which the respective
amounts transferred bear to each other at the time the annuity for the
wife was fixed.
(Source: P.A. 81-1536.)