reglab/housing_qa huggingface dataset:
40 ILCS 5/5-175
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-175)Sec. 5-175.         Contributions by city for prior service annuities and pensions under former  acts.Each 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: (a) For the payment of prior service  annuities and widow's prior service annuities, and all annuities, pensions  and benefits which have been or which shall be allowed under "An Act to  provide for the setting apart, formation and disbursements of a police  pension fund in cities having a population exceeding two hundred thousand  inhabitants", approved June 29, 1915, as amended; also for the purpose of  paying that part of any annuity for which reserves from contributions by  the policeman and the city are not provided under this Article, including  that part of the annuity described in Section 5-127, 5-132, 5-136, 5-145,  and 5-167 and 5-167.4 for which monies are not provided in this Article, and to make  possible the transfer of reserves from the investment and interest reserve  to other reserves of the fund, as provided in this Article.(b) Amounts contributed by the city for the purposes of this section  shall be credited to the prior service annuity reserve. When the balance of  that reserve equals the liabilities chargeable thereto (including in  addition to all other liabilities of such reserve, the present value,  according to the American Experience Table of Mortality, and interest at  the rate of 4% per annum, or according to the Combined Annuity Mortality  Table and interest at the rate of 4% per annum, whichever is applicable, of  all annuities present or prospective, chargeable to the prior service  annuity reserve) the city shall cease to contribute the sum no longer  required for the purposes indicated in paragraph (a) of this section;  provided, if at any time the balance of the investment and interest reserve  is not sufficient to permit a transfer from such reserve to any other  reserve of the fund, in accordance with the provisions of this Article, the  city shall, as soon as possible and practicable thereafter, contribute sums  sufficient to make possible such transfer.(c) If by reason of annexation of territory and the employment by the  city of any policeman then employed in the annexed territory, after the  city has ceased to make contributions under this section, contributions to  provide prior service and widow's prior service annuity for such policeman  become necessary for such purposes, the city shall, as soon as possible and  practicable thereafter, contribute sums sufficient to provide such annuities.    (Source: P.A. 82-342.)
40 ILCS 5/5-175.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-175.1)Sec. 5-175.1.     Contributions by female policemen.     (a) Effective as of October 1, 1974, female policemen shall make the  same contributions for survivors' annuities  or other benefits as are in  effect for male policemen, to the end that no distinction or difference  shall exist as between male and female policemen with respect to rates  of contribution or other provisions of this Article.(b) Any female policeman shall have the option of making  contributions for the aforesaid purposes, covering the period prior to  October 1, 1974, and receiving pension credits therefor including  concurrent credits from city contributions. Such contributions shall  include interest at 4% per annum from the dates such contributions  should have been made from the beginning of their service to the dates  of payment to the end that equal pension credits for survivors' benefits  may be provided for all policemen under this Article.    (Source: P.A. 81-1536.)
40 ILCS 5/5-176
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-176)Sec. 5-176.     Cost of administration.The city shall contribute the entire costs of administration of the fund  from revenue derived from the taxes authorized to be levied for the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-177
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-177)Sec. 5-177.     Other city contributions-Estimates.The board shall estimate the amounts required each year to be  contributed by the city to pay all annuities and benefits hereunder and  administrative expenses. All amounts shall be paid annually by the city  into the fund from taxes levied and collected for the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-178
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-178)Sec. 5-178. Board created. A board of 8 members shall  constitute a board of trustees authorized to administer the provisions of  this Article. The board shall be known as the Retirement Board of the  Policemen's Annuity and Benefit Fund of the city.The board shall consist of 4 persons appointed by  the mayor of the city; 3 policemen employed by the city, at least one of  whom shall be a lieutenant or of a rank superior to lieutenant, one of whom  shall be of the rank of sergeant, and one of whom shall be of the rank of  investigator or a rank inferior to that rank; and one  annuitant of the fund, or a pensioner of any prior police pension fund  in operation, by authority of law, in the city. Children less than age  18 shall not be eligible for board membership. The term of office for  all members shall be 3 years. For the election to be held in 2008 only, the terms for the member who is a lieutenant or of a rank superior to lieutenant and the member who is a sergeant shall be 3 years and the terms for the member who is an investigator or a rank inferior to that rank and the annuitant member shall be 4 years. After the terms of the 2008 election are completed, the terms revert to 3-year terms for each elected trustee. Upon his election, the member holding the  rank of investigator or a rank inferior to that rank shall be detailed by  the Police Superintendent to the office of the board for the duration of  his term as trustee.The members of a retirement board holding office in a city at the  time this Article becomes effective, including elected, appointed and  ex-officio members, shall continue in office until the expiration of  their respective terms or appointment and until their respective  successors are elected or appointed, and qualified.At least 30 days prior to the expiration of the term of office of  each appointive member the mayor shall appoint a successor for a term of  3 years.The board shall conduct a regular election at least 30 days prior to  the expiration of the terms of the active policemen members and  annuitant or beneficiary members for election of a successor of each  such member for a term of 3 years.Any member of the board so appointed or elected shall continue in  office until his successor is selected and has qualified.Any person so appointed or elected shall qualify by taking an oath of  office. A copy thereof shall be kept in the office of the city clerk of  the city.  (Source: P.A. 95-1036, eff. 2-17-09.)
40 ILCS 5/5-179
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-179)Sec. 5-179.     Board elections.     The regular elections for members of the  board shall be held under rules of the board at least 30 days prior to the  expiration of the term of office of any elective member.At any election for active policemen members, all such policemen of the  appropriate rank employed by the city when the election is held have a right  to vote for members of the board of the same class of rank.At any election for the pensioner or annuitant member, all annuitants and  pensioners (except children less than age 18) and the legal guardian of  any child annuitant or child pensioner, whose mother or stepmother is not  an annuitant or pensioner of the fund, shall have a right to vote.Ballots to be cast in such elections shall be of a secret character.    (Source: P.A. 80-671.)
40 ILCS 5/5-180
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-180)Sec. 5-180.     Board vacancy, removal and recall.A vacancy on the board owing to death, resignation or any other cause  shall be filled as follows: If the vacancy is of an appointee of the mayor,  the mayor shall appoint a person to serve for the remainder of the  unexpired term. If the vacancy is of an active policeman member, or a  pensioner or annuitant member, the successor shall be elected to serve  during the remainder of the unexpired term, at a special election which  shall be held by the board within 30 days from the date the vacancy occurs.  The election shall be conducted in the same manner as the regular triennial  election herein provided for.The appointive members of the board may be removed from office by the  mayor. Any member elected by the active policemen who withdraws from the  police service of the city shall automatically cease to be a member of the  board.Any elective member of the board shall be subject to recall as follows:  If not less than 60% of the active policemen contributors to the fund, or  not less than 60% of the pensioners and annuitants (minors under age 18  excepted), petition the board in writing to declare vacant the membership  of an active policeman member or pensioner or annuitant, as the case may  be, respectively, the board, within 15 days after receipt of the petition  shall declare such membership vacant. A member of the board is not subject  to recall more than once in any calendar year nor within one year after a  previous recall.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-181
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-181)Sec. 5-181.     Board officers.At each regular meeting in December, the board shall elect, by a  majority vote of the members who vote upon the question, a president, a  vice-president and a secretary from among its own members to serve until  the next regular December meeting and until their successors are elected.  The secretary shall make a complete record of the proceedings of all  meetings of the board and perform such other duties as the board directs.The secretary shall be chosen from the active policemen members of the  board, and following his election shall, at the request of the board, be  detailed to the office of the board by the head of the police department of  the city as an active policeman assigned to such duty.    (Source: Laws 1965, p. 1080.)
40 ILCS 5/5-182
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-182)Sec. 5-182.     Board meetings.The board shall hold regular meetings in each month and such other  meetings as it deems necessary. A majority of the board members shall  constitute a quorum for the transaction of business at any meeting;  provided, that no pension, annuity, or benefit shall be allowed or granted  and no money shall be paid out of the fund unless ordered by a vote of the  majority of the members of the board as shown by roll call entered upon the  official record of proceedings of the meeting at which such action is  taken. All board meetings shall be open to the public.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-183
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-183)Sec. 5-183.     Board powers and duties.         The board shall have the powers and duties stated in Sections 5-184 to  5-195, inclusive, in addition to the other powers and duties provided in  this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-184
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-184)Sec. 5-184.     To supervise deductions and contributions.     To see that all amounts specified in this Article to be applied to  the fund, from any source, are collected and so applied; to see that the  sums to be deducted from the salaries  of policemen are deducted and paid  into the fund, and that the sums to be contributed by the city are so  contributed and received into the fund, and that all interest upon  moneys due the fund and all other moneys which accrue to the fund are  collected and paid into it.    (Source: P.A. 81-1536.)
40 ILCS 5/5-185
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-185)Sec. 5-185.     To notify comptroller of deductions.     To notify the city comptroller of the amounts or percentages of salary  to be deducted from the salaries  of policemen and paid into the  fund.    (Source: P.A. 81-1536.)
40 ILCS 5/5-186
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-186)Sec. 5-186.     To accept gifts.To accept by gift, grant, bequest or otherwise any money or property of  any kind and use the same for the purposes of the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-187.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-187.1)Sec. 5-187.1.     To lend securities.     The Board may lend securities owned  by the Fund to a borrower upon such terms and conditions as may be mutually  agreed in writing.  Such agreement shall provide that during the period  of such loan the Fund shall retain the right to receive, or collect from  the borrower, all dividends, interest rights, or any distributions to which  the Fund would have otherwise been entitled.  The borrower shall deposit  with the Fund as collateral for such loan cash equal to the market value  of the securities at the time the loan is made and shall increase the amount  of collateral if and when the Fund shall request an additional amount because  of subsequent increased market value of the securities.The period for which the securities may be loaned shall not exceed one  year, and the loan agreement may specify earlier termination by either party  upon mutually agreed conditions.    (Source: P.A. 83-823.)
40 ILCS 5/5-188
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-188)Sec. 5-188.     To have an audit.     To contract with an independent certified public  accounting firm to perform an annual audit of the assets of the fund and  issue a financial opinion.  The annual audit shall be in addition to any  examination of the fund by the State Director of Insurance.    (Source: P.A. 85-964.)
40 ILCS 5/5-189
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-189)Sec. 5-189.     To authorize payments.To authorize the payment of any annuity, pension, or benefit granted  under this Article or under any other Act relating to police pensions,  heretofore in effect in the city which has been superseded by this Article;  to increase, reduce, or suspend any such annuity, pension, or benefit  whenever any part thereof was secured or granted or the amount thereof  fixed, as the result of misrepresentation, fraud, or error; provided, the  annuitant, pensioner or beneficiary concerned shall be notified and given  an opportunity to be heard concerning such proposed action.The Board shall have exclusive original jurisdiction in all matters  relating to or affecting the fund, including, in addition to all other  matters, all claims for annuities, pensions, benefits or refunds.    (Source: P.A. 77-2141.)
40 ILCS 5/5-190
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-190)Sec. 5-190.     To require statements and determine service credits.To require each policeman, including those on vacation and on leave of  absence, to file a statement, in such form as the Board directs, concerning  service rendered prior to the effective date, from which the Board shall  make a determination of the length of such service; to determine, from such  information as shall be available, the period of service rendered prior to  the effective date by any policeman who fails to file such a statement.Any such determination by the Board shall be conclusive as to any such  period of service unless the Board reconsiders and changes the  determination.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-191
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-191)Sec. 5-191.     To issue certificate of service.To issue to each present employee a certificate which shall show the  entire period of service rendered by him prior to the effective date and  the amounts to his credit as of such date for prior service annuity and  widow's prior service annuity.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-192
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-192)Sec. 5-192.     To submit annual report to city council.To submit a report annually in June to the city council. The report  shall be made as of the close of business on December 31st of the preceding  year and shall contain a detailed statement of the affairs of the fund, its  income and disbursements for such year, and its assets and liabilities.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-193
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-193)Sec. 5-193.     To subpoena witnesses.To compel witnesses to attend and testify before it upon any matter  concerning the fund and to allow fees not in excess of $6 to any witness  for attendance upon any one day. The president and other members of the  Board may administer oaths to witnesses.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-194
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-194)Sec. 5-194.     To appoint employees.     To appoint such actuarial, medical, legal, clerical or other employees  as may be necessary.  Beginning July 1, 1988, the board shall develop  procedures for obtaining, by  contract or employment, any necessary professional assistance including investment  advisors and managers, auditors, and medical and legal professionals.    (Source: P.A. 85-964.)
40 ILCS 5/5-194.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-194.1)Sec. 5-194.1.     To have a budget.     The board shall adopt an annual  budget at its regular January meeting for the current fiscal year.    (Source: P.A. 85-964.)
40 ILCS 5/5-195
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-195)Sec. 5-195.     To make rules.To make rules and regulations necessary for the administration of the  fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/5-196
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-196)Sec. 5-196.     Moneys which may be held on deposit.     To pay annuities and benefits the Board may at all times keep uninvested  a sum not in excess of the amount required for such payments for a period  not exceeding 60 days. Such sum shall be kept on deposit in any bank or  savings and loan association authorized to do business in  this State. The amount which the Board may  deposit in any such bank or savings and loan association, however, shall  not exceed 25% of the paid up  capital and surplus of the bank or savings and loan association.No bank or savings and loan association shall receive investment funds  as permitted by this Section, unless it has complied with the requirements,  other than the maximum deposit requirement established pursuant to Section  6 of "An Act relating to certain investments of public funds by public agencies",  approved July 23, 1943, as now or hereafter amended.    (Source: P.A. 83-541.)
40 ILCS 5/5-197
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-197)Sec. 5-197.     Accounting.     An adequate system of accounts and records shall be established to give  effect to the requirements of this Article, and shall be maintained in  accordance with generally accepted accounting principles. The reserves  designated in  Sections 5-198 to 5-208, inclusive, shall be maintained.    (Source: P.A. 85-964.)
40 ILCS 5/5-198
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-198)Sec. 5-198.     Expense reserve.Amounts contributed towards the cost of administration shall be credited  to the expense reserve. Expenses of administration shall be charged to this  reserve.    (Source: Laws 1963, p. 161.)