(40 ILCS 5/8-238)
(from Ch. 108 1/2, par. 8-238)
Municipal Pension Fund superseded.
The fund herein provided for on the effective date shall supersede and
take the place and have transferred to it the assets of any Municipal
Pension Fund as herein defined, in operation in the city, and the fund
herein provided for shall be a continuation of such Municipal Pension Fund.
All annuities, pensions and other benefits allowed prior to the
effective date by the Board of Trustees of such Municipal Pension Fund and
all claims pending or ungranted on the effective date which thereafter are
allowed according to the law establishing such Municipal Pension Fund by
the board herein provided for, shall be paid by the board from the fund
herein provided for, according to the law or laws under which such
annuities, pensions, or other benefits were allowed.
(Source: Laws 1963, p. 161.)