Illinois Compiled Statutes
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40 ILCS 5/3-125.1
(40 ILCS 5/3-125.1)
(from Ch. 108 1/2, par. 3-125.1)
Contributions by police officers.
Each police officer
shall contribute to the pension fund the following percentages of salary
for the periods stated: Beginning July 1, 1909 and prior to July 23, 1943,
1% (except that prior to July 1, 1921 not more than one dollar per month
shall be deducted, and except that beginning July 1, 1921 and prior to July
1, 1927 not more than $2 per month shall be deducted); beginning July 23,
1943 and prior to July 20, 1949, 3%; beginning July 20, 1949 and prior to
July 17, 1959, 5%; beginning July 17, 1959 and prior to July 1, 1971, 7%;
beginning July 1, 1971 and prior to July 1, 1975, 7 1/2%; beginning
July 1, 1975 and prior to January 1, 1987, 8 1/2%; beginning
January 1, 1987 and prior to January 1, 2001, 9%; and beginning
January 1, 2001, 9.91%. Such sums shall be paid or deducted monthly.
Contribution to the self-managed plan shall be no less than 10% of
"Salary" means the annual salary, including longevity, attached to the
police officer's rank, as established by the municipality's appropriation
ordinance, including any compensation for overtime which is included in
the salary so established, but excluding any "overtime pay", "holiday
pay", "bonus pay", "merit pay", or any other cash benefit not included in
the salary so established.
(Source: P.A. 91-939, eff. 2-1-01.)