Illinois General Assembly - Illinois Compiled Statutes

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40 ILCS 5/16-185

(40 ILCS 5/16-185) (from Ch. 108 1/2, par. 16-185)

Sec. 16-185.

Benefit Trust Reserve.

(a) On July 1, 2003, the Employer's Contribution Reserve shall be
renamed the Benefit Trust Reserve.  The Benefit Trust Reserve
shall serve as a clearing account for income and expenses of the System as
well as transfers to and from the other reserve accounts established under
this Article and adjustments thereto.

(b) This Reserve shall be credited with all contributions, investment
income, and other income received by the System, except as otherwise
required by this Article.

(c) This Reserve shall be charged with all benefits and refunds paid and
all other expenses of the System, except as otherwise required under this
Article.

(Source: P.A. 93-469, eff. 8-8-03.)