(40 ILCS 5/5-120) (from Ch. 108 1/2, par. 5-120)
Sec. 5-120.
Interest.
"Interest": (a) Interest at 4% per annum for any policeman who was a
participant or a contributor to this fund on December 31, 1953; and (b)
interest at 3% per annum for any future entrant not a participant or
contributor to this fund on December 31, 1953, who becomes a participant or
contributor after December 31, 1953.
For fund accounts, credits, transfers and charges, "interest" means
interest at 4% per annum as to amounts applicable to any policeman who was
a participant or a contributor on December 31, 1953, and interest at 3% per
annum as to amounts applicable to any future entrant who was not a
participant or a contributor on December 31, 1953, but who becomes a
participant or contributor after December 31, 1953.
(Source: Laws 1963, p. 161.)
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