40 ILCS 5/8-189
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 8 - Municipal Employees', Officers', And Officials' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 8-189)Sec. 8-189.         Contributions by city for prior service annuities and pensions under former  acts, and for other purposes.The city shall contribute annually, from the sum produced by the tax  levy herein authorized, all sums required for the purposes of this Article  other than those stated in this Section.The balance of the sum produced by the tax levy shall be applied for the  following purposes:(a) The city shall make contributions to provide prior service and  widow's prior service annuities, and other annuities, pensions and benefits  which have been or shall be allowed or granted under any of the following  Acts or in accord with the following described provisions:1. The Municipal pension fund Act as defined in Section 8-123 of this  Article with further reference to Section 8-238; Public School Employees'  Pension Act of 1903, Sections 8-107 and 8-239; Court and Law Department  Employees' Annuity Act, Sections 8-105 and 8-240; Board of Election  Commissioners Employees' Annuity Act, Sections 8-106 and 8-240; Public  Library Employees' Pension Act, Sections 8-107.1 and 8-240.1; House of  Correction Employees' Pension Act, Sections 8-107.2 and 8-240.2.2. To meet such part of any minimum annuity as shall be in excess of the  age and service annuity and prior service annuity; and such part of any  minimum annuity for widows as shall be in excess of the widow's annuities  and widow's prior service annuity; also for the purpose of providing the  city cost of automatic increases in annuity after retirement in accord with  Section 8-137, and for any other purpose for which moneys are not otherwise  provided in this Article.3. To provide a sufficient balance in the investment and interest  reserve to permit a transfer from that reserve to other reserves of the  fund;4. To credit to the city contribution reserve such amounts required from  the city but not contributed by it for age and service and prior service  annuities, and widows' annuities and widows' prior service annuities.(b) All such contributions shall be credited to the prior service  annuity reserve. When the balance of this reserve equals its liabilities  (including in addition to all other liabilities, the present values of all  annuities, present or prospective, according to the applicable mortality  tables and rates of interest), the city shall cease to contribute the sum  stated in this section.Whenever the balance of the investment and interest reserve is not  sufficient to permit a transfer from that reserve to any other reserve, the  city shall contribute sums sufficient to make possible such transfer;  provided, that if annexation of territory and the employment by the city of  any employee of any such territory at the time of annexation, after the  city has ceased to contribute as herein provided, results in additional  liabilities for prior service annuity and widow's prior service annuity for  any such employee, contributions by the city for such purposes shall be  resumed.    (Source: P.A. 76-1301.)