reglab/housing_qa huggingface dataset:
40 ILCS 5/17-146
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-146)Sec. 17-146.     To make investments.     To invest the moneys of the Fund,  subject to the requirements and restrictions set forth in this Article and  in Sections 1-109, 1-109.1, 1-109.2, 1-110, 1-111, 1-114 and 1-115.No bank or savings and loan association shall receive investment funds  as permitted by this Section, unless it has complied with the requirements  established pursuant to Section 6 of the Public Funds Investment Act.  Those requirements shall be applicable only at the time of investment and  shall not require the liquidation of any investment at any time.The Board shall have the authority to enter into any agreements  and to  execute any documents that it determines to be necessary to complete any  investment transaction.All investments shall be clearly held and accounted for to indicate  ownership by the Fund.  The Board may direct the  registration of  securities or the holding of interests in real property in the name of the  Fund or in the name of a nominee created for the express purpose  of  registering securities or holding interests in real property by a  national or state bank or trust company authorized to conduct a trust  business in the State of Illinois.  The Board may hold title to  interests  in real property in the name of the fund or in the name of a title  holding corporation created for the express purpose of holding title to  interests in real property.Investments shall be carried at cost or at a value determined  in accordance with generally accepted accounting principles and accounting  procedures approved by the Board.The value of investments held by the Fund in one or more  commingled  investment accounts shall be determined in accordance with generally accepted  accounting principles.The Board may  not transfer its investment authority, nor transfer the assets of the Fund  to any other person or entity for the purpose of consolidating or merging  its assets and management with any other pension fund or public investment  authority, unless the Board resolution authorizing such transfer  is submitted  for approval to the contributors and pensioners of the Fund at  elections  held not less than 30 days after the adoption of such resolution by the  Board, and such resolution is approved by a majority of the votes  cast on  the question in both the contributors election and the pensioners election.  The election procedures and qualifications governing the election of  trustees shall govern the submission of resolutions for approval under this  paragraph, insofar as they may be made applicable.    (Source: P.A. 89-636, eff. 8-9-96; 90-19, eff. 6-20-97; 90-32, eff.  6-27-97.)
40 ILCS 5/17-146.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-146.1)Sec. 17-146.1.         Participation in commingled investment funds; transfer of  investment functions and securities.(a) The Board may invest in any commingled  investment fund or  funds established and maintained by the Illinois State Board of Investment  under the provisions of Article 22A of this Code.  All  commingled fund participations shall be subject to the law governing the  Illinois State Board of Investment and the rules, policies and directives  of that Board.(b) The Board may, by resolution duly adopted by a  majority  vote of its membership, transfer to the Illinois State Board of Investment  created by Article 22A of this Code, for management and administration, all  investments owned by the Fund of every kind and character.  Upon completion  of such transfer, the authority of the Board to make  investments  shall terminate.  Thereafter, all investments of the reserves of the Fund  shall be made by the Illinois State Board of Investment in accordance with  the provisions of Article 22A of this Code.Such transfer shall be made not later than the first day of the fourth  month next following the date of such resolution.  Before such transfer an  audit of such investments shall be completed by a certified public  accountant selected by the Illinois State Board of Investment and approved  by the Auditor General of the State of Illinois.  The expense of such audit  shall be defrayed by the retirement Board.    (Source: P.A. 90-19, eff. 6-20-97; 90-32, eff. 6-27-97; 90-566, eff.  1-2-98.)
40 ILCS 5/17-146.2
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-146.2)Sec. 17-146.2.     To lend securities.     The Board may  lend  securities owned by the Fund to a borrower upon such written terms and  conditions as may be mutually agreed.  The agreement shall provide that  during the period of the loan the Fund (or the custodian of the Fund, or  agent thereof, as applicable) shall retain the right to receive or collect  from the borrower all dividends, interest and distributions to  which the Fund would have otherwise been entitled.  The borrower shall  deposit with the Fund collateral for the loan equal to the market value of  the securities at the time the loan is made, and shall increase the amount  of collateral if the Board requests an additional amount because of  subsequent increased market value of the securities.  The Board may accept  from the borrower cash collateral or collateral consisting of assets  described in Section 1-113 of this Act.  To the extent that the Fund  participates in a securities lending program established and maintained by  (1) a national or State bank which is authorized to do business in the  State of Illinois, or (2) an investment manager, the Board may accept  collateral consisting of an undivided interest in a pool of commingled  collateral that has been established by the bank or investment  manager for the purpose of pooling collateral  received for the loans of securities owned by substantially all of  the participants in such bank's or investment manager's securities lending  program.  Nothing in Sections 1-109, 1-110 or 1-113 of this Act shall be  construed to prohibit the Fund's lending of securities in accordance with this  Section.    (Source: P.A. 90-566, eff. 1-2-98.)
40 ILCS 5/17-147
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-147)Sec. 17-147. Custody of Fund; bonds; legal proceedings. The  city treasurer, ex officio, shall be the custodian of the Fund,  and shall secure and safely keep it, subject to the control and  direction of the Board. The city treasurer shall keep the books and accounts  concerning  the Fund in the manner prescribed by the Board. The  books and accounts  shall always be subject to the inspection of the Board or any  member  thereof. The city treasurer shall be liable on the city treasurer's official bond for the  proper performance of duties and the conservation of the Fund.Payments from the Fund shall be made upon checks or through direct deposit transmittals authorized by the executive director or  by such person as the Board may designate from time to time  by appropriate resolution.Neither the treasurer nor any other officer having the custody of the  Fund is entitled to retain any interest accruing thereon, but such  interest shall accrue and inure to the benefit of such Fund,  become a  part thereof, subject to the purposes of this Article.Any legal proceedings necessary for the enforcement of the provisions  of this Article shall be brought by and in the name of the Board of the Fund.  (Source: P.A. 102-210, eff. 1-1-22.)
40 ILCS 5/17-148
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-148)Sec. 17-148.     Method of paying pensions.     Annual pensions and automatic annual increases shall be paid in 12  monthly installments and shall be so adjusted that all monthly payments are  the same. This shall apply also to automatic increases accrued from the  anniversary of the pension or the 61st birthdate, whichever is later, to  the following January. In computing the first pension payment for a  fractional part of a month, 30 days shall constitute one month. Beginning  January 1, 1970, the pension payment shall begin on the first day of the  month, with the issuance of the last check on the first day of the month in  which death occurs. If a pensioner is reinstated as a contributor, no  pension shall be paid for the month in which re-employment occurs.  The pensioner shall reimburse the Fund for any pension payments received  to which he is not legally entitled, plus 5% interest compounded annually  beginning one year after the Fund's notification of the indebtedness.    (Source: P.A. 84-1028.)
40 ILCS 5/17-149.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-149.1)Sec. 17-149.1. Felony conviction. None of the benefits provided for in this Article shall be paid to any  person who is convicted of any felony relating to or arising out of or in  connection with his or her service as a teacher.None of the benefits provided for in this Article shall be paid to any person who otherwise would receive a survivor benefit who is convicted of any felony relating to or arising out of or in connection with the service of the teacher from whom the benefit results.This Section shall not operate to impair any contract or vested right  acquired prior to January 1, 1988, nor to preclude the right to a refund, and for the changes under this amendatory Act of the 100th General Assembly, shall not impair any contract or vested right acquired by a survivor prior to the effective date of this amendatory Act of the 100th General Assembly.All teachers entering service after January 1, 1988 shall be  deemed to have consented to the provisions of this Section as a condition  of membership, and all participants entering service subsequent to the effective date of this amendatory Act of the 100th General Assembly shall be deemed to have consented to the provisions of this amendatory Act as a condition of participation.  (Source: P.A. 100-334, eff. 8-25-17.)
40 ILCS 5/17-150
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-150)Sec. 17-150.     Suspension of pensions.     Until July 1, 2000, pension  payments, exclusive of those made to the survivors of persons who were  contributors, shall be suspended while the recipient is employed in a teaching  capacity, outside the City in which the Fund exists, by any public school or  charter school in this State, unless the recipient is so employed temporarily  as a substitute teacher for 100 days or less in a school year or on an hourly  basis with earnings not in excess of the sum payable for 100 days' substitute  service.Beginning July 1, 2000, pension payments shall no longer be suspended while  the recipient is employed in a teaching capacity, outside the City in which the  Fund exists, by any public school or charter school in this State, and any  pension that is in a state of suspension under this Section on July 1, 2000  shall be reinstated on that date.  Notwithstanding Section 17-157, the change  to this Section made by this amendatory Act of the 91st General Assembly  applies without regard to whether or not the pensioner was in service on or  after the effective date of this amendatory Act.    (Source: P.A. 90-566, eff. 1-2-98; 91-887, eff. 7-6-00.)
40 ILCS 5/17-151
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-151)Sec. 17-151.     Annuities, etc.     - Exempt.  All pensions, annuities, refunds, or death benefits granted under the  provisions of this Article are exempt from State and municipal taxes and  are exempt from attachment or garnishment process. They shall not be seized  or levied upon by virtue of any judgment or any process or proceedings  issued out of or by any court for the payment or satisfaction in whole or  in part of any debt, claim, damage, demand or judgment.No pensioner has the right to transfer or assign his pension or any part  thereof by way of mortgage or otherwise except for the purpose (1) of  establishing and maintaining membership in nonprofit group health or  hospital plans approved by the Board and (2) of establishing a  living  trust, the trustee of which is authorized to engage in the trust business,  provided all pension payments so assigned are required to be paid monthly  to the trustor or, in the event of his incapacity, expended for his  benefit. The Board is hereby authorized to administer all the  details  involved in establishing and maintaining membership in such health or  hospital plans for the benefit of the annuitants, but it shall not be  obligated to do so or to continue doing so, if in its judgment such  continuance is not desirable.    (Source: P.A. 90-566, eff. 1-2-98.)
40 ILCS 5/17-151.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

Sec. 17-151.1. Recovery of amount paid in error.(a) The Board may retain out of any annuity or benefit payable to any person any amount that the Board determines is owing to the Fund because (i) required employee contributions were not made in whole or in part, (ii) employee or member obligations to return refunds were not met, or (iii) money was paid to any employee, member, or annuitant through misrepresentation, fraud, or error.If the Fund mistakenly sets any benefit at an incorrect amount, the Fund shall recalculate the benefit as soon as may be practicable after the mistake is discovered. The Fund shall provide the recipient, or the survivor or beneficiary of the recipient, as the case may be, with at least 60 days' notice of the corrected amount.If the benefit was mistakenly set too low, the Fund shall make a lump sum payment to the recipient, or the survivor or beneficiary of the recipient, as the case may be, of an amount equal to the difference between the benefits that should have been paid and those actually paid, plus interest at the rate of 3% from the date the unpaid amounts accrued to the date of payment.If the benefit was mistakenly set too high, the Fund may recover the amount overpaid from the recipient, or the survivor or beneficiary of the recipient, as the case may be, plus interest at 3% from the date of overpayment to the date of recovery.  The recipient, or the survivor or beneficiary of the recipient, as the case may be, may elect to repay the sum owed either directly by a lump sum payment, in agreed-upon monthly payments over a period not to exceed 5 years,  or through an actuarial equivalent reduction of the corrected benefit. However, if (1) the amount of the benefit was mistakenly set too high,  (2) the error was undiscovered for 3 years or longer from the date of the first mistaken benefit payment, and (3) the error was not the result of incorrect information supplied by the affected member, then upon discovery of the mistake the benefit shall be adjusted to the correct level, but the recipient of the benefit shall not be required to repay to the Fund the excess amounts received in error.(b) The Board and the Fund shall be held free from any liability for any money retained or paid in accordance with this Section, and the employee, member, or pensioner shall be assumed to have assented and agreed to the disposition of money due.(c) The changes made by this amendatory Act of the 94th General Assembly are not limited to persons in service on or after the effective date of this amendatory Act.  (Source: P.A. 102-210, eff. 1-1-22.)
40 ILCS 5/17-152
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-152)Sec. 17-152.     Retirement Systems Reciprocal Act.The "Retirement Systems Reciprocal Act", being Article 20 of this Code,  as now enacted and hereafter amended, is hereby adopted and made a part of  this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/17-153
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-153)Sec. 17-153.     Accounting - Audits.     The assets of the Fund shall  be held  for the express purposes set forth in the provisions of this Article subject  to the conditions prescribed herein. An adequate system of accounts and  records shall be established and maintained that will give effect to the  requirements hereof. All assets of the Fund shall be credited to  designated  reserve accounts according to the purposes for which they are held.Appropriate reserves shall be maintained representing member  contributions and other revenues accruing from taxes, state  appropriations and miscellaneous sources.At the end of each fiscal year the Board shall have  the  accounts and records of the Fund audited by certified public  accountants  selected by the Board. Within 2 weeks after receiving the audit  report,  the Board shall file a copy of the audit report with the State  Superintendent  of Education and the Auditor General.    (Source: P.A. 90-566, eff. 1-2-98.)
40 ILCS 5/17-154
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-154)Sec. 17-154. Retired teachers supplementary payments. All persons who were  on June 30, 1975, entitled to a service retirement  pension or disability retirement pension, under this Fund or any  fund of  which this Fund is a continuation, and who meet the conditions  prescribed  hereinafter, shall receive supplementary payments as follows:(1) In the case of any such retired person, who attained or shall attain  after June 30, 1975, the age of 60 years, who was in receipt of a service  retirement pension, the payment pursuant to this section shall be an amount  equal to the difference between (a) his annual service retirement pension  from the Fund plus any annual payment received under the  provisions of  Section 34-87 (now repealed) of "The School Code", approved March 18, 1961, as amended,  if the total of such amounts is less than $4500 per year, and (b) an amount  equal to $100 for each year of validated teaching service forming the basis  of the service retirement pension up to a maximum of 45 years of such  service;(2) In the case of any such retired person, who was in receipt on June  30, 1975, of a disability retirement pension, the payment shall be equal  to the difference between (a) his total annual disability retirement pension  and (b) an amount equal to $100 for each year of validated teaching service  forming the basis of the disability retirement pension.     (Source: P.A. 94-1105, eff. 6-1-07.)
40 ILCS 5/17-155
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 17-155)Sec. 17-155.     Retired teachers' contributions for supplementary payments.     Supplementary payment to retired teachers under Section 17-154 shall  not accrue until such retired person has paid a total additional  contribution of $5 per year for each year of validated teaching service,  plus interest at 5% per annum from October  1, 1975. If retirement pension was not computed according to average salary  as defined in Section 17-116, 1% of the monthly base pension multiplied  by each complete year of service forming the basis of his service retirement  pension shall constitute the total additional contribution.The supplementary  payment (1) shall be prorated on a monthly basis as a one-twelfth addition  to monthly payments due on the service retirement and disability retirement  pensions, (2) shall begin on the date on which the payment of such  allowance is next due after such contribution and interest thereon have  been paid, and (3) shall continue to be paid only to the extent that funds  are available in the Retired Teachers Supplementary Payment Fund  established hereunder for this purpose; provided that in no case shall the  present or future service retirement pension or disability retirement  pension of any person be reduced hereby.  No part of any such supplementary  payment shall be an obligation of the fund otherwise established under this  Article.      (Source: P.A. 79-206.)