reglab/housing_qa huggingface dataset:
40 ILCS 5/7-177
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-177)Sec. 7-177. Board meetings.   The board shall hold regular meetings at least 4 times in each year and such special meetings  at such other times as may be called by the executive director upon written  notice of at least 3 trustees. At least 5 days' notice of each meeting  shall be given to each trustee. All meetings of the board shall be open to  the public and shall be held in the offices of the board or in any other  place specifically designated in the notice of any meeting.  (Source: P.A. 98-218, eff. 8-9-13.)
40 ILCS 5/7-178
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-178)Sec. 7-178.     Board powers and duties.         The board shall have the powers and duties stated in Sections 7-179 to  7-200, inclusive, in addition to such other powers and duties provided in  this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-179
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-179)Sec. 7-179.     To authorize and suspend annuities.To authorize or suspend the payment of any annuity or benefit in  accordance with this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-180
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-180)Sec. 7-180.     To prepare and approve budget.To prepare and approve, prior to the beginning of each calendar year, a  budget of operating expenses for such year.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-181
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-181)Sec. 7-181.     To subpoena witnesses.To compel witnesses to attend meetings and to testify upon any necessary  matter concerning the fund and allow fees not in excess of $10 to any such  witness for such attendance upon any one day.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-182
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-182)Sec. 7-182.         To authorize municipality contribution rates and adopt actuarial tables and  interest rates.To authorize municipality contribution rates and adopt actuarial tables  and establish effective and prescribed rates of interest.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-183
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-183)Sec. 7-183.     To request information.To request such information from any participating or covered employee  or from any participating or covered municipality or instrumentality  thereof or participating instrumentality as is necessary for the proper  operation of the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-184
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-184)Sec. 7-184.     To determine prior service.To determine the length of prior service from such information as is  available.  Any such determination shall be conclusive as to any such period  of service, unless the board reconsiders the case and changes the  determination.The change to this Section made by this amendatory Act of the 91st General  Assembly applies without regard to whether the individual is in service on or  after the effective date of this amendatory Act.    (Source: P.A. 91-887, eff. 7-6-00.)
40 ILCS 5/7-185
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-185)Sec. 7-185.     To establish offices.To establish an office or offices with suitable space for meetings of  the board and for use of the necessary administrative personnel. All books  and records of the fund shall be kept in such office or offices or in such  other places as the board shall designate for safekeeping.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-186
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-186)Sec. 7-186.     To appoint executive director.To appoint an executive director to manage the office and carry out the  technical administrative duties of the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-187
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-187)Sec. 7-187.     To appoint actuary.To appoint an actuary to perform all the necessary actuarial  requirements of the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-188
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-188)Sec. 7-188.     To appoint investment counsel.To appoint such investment counsel as, in the opinion of the board, may  be required from time to time.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-189
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-189)Sec. 7-189.     To obtain additional services.To obtain by employment or by contract such additional actuarial  services and such legal, medical, clerical or other services as is required  for the efficient administration of the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-190
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-190)Sec. 7-190.     To fix compensation of employees.To determine and fix the rate of compensation to be paid to the  executive director, actuary, investment counsel, auditor, legal or medical  counsel, and employees.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-191
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-191)Sec. 7-191. To have accounts audited.   To have the accounts of the fund audited annually by a certified public  accountant.  (Source: P.A. 102-210, eff. 1-1-22.)
40 ILCS 5/7-192
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-192)Sec. 7-192.     To submit annual statements.To submit an annual statement to the governing body of each  participating municipality and governing body of each participating  instrumentality and to any participating employee upon request, as soon  after the end of each calendar year as possible. The statement shall  include the following:a.  A balance sheet, showing the financial and actuarial condition of the  fund as of the end of the calendar year;b.  A statement of receipts and disbursements during such year;c.  A statement showing changes in the asset, liability, reserve and  surplus accounts during such year;d. A detailed statement of investments as of the end of such year;e. Such additional statistics as are deemed necessary for a proper  interpretation of the condition of the fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-193
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-193)Sec. 7-193.     To provide individual statements.To submit an individual statement to any participating employee upon his  reasonable request. The statement shall indicate the amount of  accumulations of each type to the employee's credit, as of the latest date  practicable.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-194
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-194)Sec. 7-194.     To accept gifts.To accept any gift, grant or bequest of any money or securities for the  purposes designated by the grantor if such purpose is specified as  providing cash benefits to some or all of the participating employees or  annuitants of this fund, or if no such purposes are designated, for the  purpose of distribution to all the participating employees at the end of  the year in the same proportion as the interest at the effective rate is  allocated for the year.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-195
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-195)Sec. 7-195.     To make investments.         To determine the limitations on the amounts of cash to be invested in  order to maintain such cash balances as may be deemed advisable to meet  current annuity, benefit and expense requirements, and invest the available  cash within these limits in securities, in accordance with Section 7-201.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-195.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-195.1)Sec. 7-195.1. To establish and maintain a revolving account. To establish and maintain a revolving account in a bank or savings and  loan association, approved by the  State Treasurer as a State depositary and having capital funds, represented  by capital, surplus, and undivided profits, of at least 5 million dollars,  for the purpose of making payments of annuities, benefits, and  administrative expenses and payments to the State Agency provided in  Section 7-170. All funds deposited in such account shall be placed in the  name of the Fund and shall be withdrawn only by a check or draft upon the  bank or savings and loan association signed by the president of the  board or the executive director, as the  board may direct. In case the president or executive director, whose  signature appears upon any check or draft, after attaching his signature  ceases to hold office before the delivery thereof to the payee, his  signature nevertheless shall be valid and sufficient for all purposes with  the same effect as if he had remained in office until delivery thereof. The  revolving account shall be created by resolution of the board. The monies in the revolving account shall  be held and expenditures shall be made by the Fund for the purposes herein  set forth. The Fund shall reimburse the revolving account for expenditures  for such purposes.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, as now or hereafter  amended.  The limitations set forth in such Section 6 shall be applicable  only at the time of investment and shall not require the liquidation of  any investment at any time.  (Source: P.A. 99-8, eff. 7-9-15.)
40 ILCS 5/7-196
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-196)Sec. 7-196.     To keep data.To keep in convenient form the data necessary for all required  calculations and valuations as required by the actuary.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-197
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-197)Sec. 7-197.     To keep permanent records.To keep a permanent record of all the proceedings of the board and such  other records as shall be necessary or desirable for administration of the  Fund. For the protection of participating employees and their  beneficiaries, the Board, the Executive Director, and its agents and  employees are prohibited from disclosing the contents of an employee's  files, records, papers or communications relating to individual employees,  except for purposes directly connected with the administration of the Fund.  In any judicial or administrative proceeding except as such proceeding is  directly concerned with the administration of the Fund, such files,  records, papers and communications shall be deemed privileged  communications. The proceedings of the Board and reports of participating  municipalities and instrumentalities shall be public records open to  inspection.    (Source: Laws 1967, p. 2091.)
40 ILCS 5/7-197.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-197.1)Sec. 7-197.1.     To reproduce records.To have any records kept by the board photographed, microfilmed or  otherwise reproduced on film. The photographs, microfilm and reproductions  shall be deemed original records and documents for all purposes, including  introduction in evidence before all courts and administrative agencies.    (Source: P.A. 76-1820.)
40 ILCS 5/7-198
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-198)Sec. 7-198.     To make rules.To establish such rules and regulations not inconsistent with the other  provisions of this Article as are necessary or desirable for the efficient  administration of the fund, including, without limitation, the time and  manner of reporting and making contributions by participating  municipalities and participating instrumentalities.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-199
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-199)Sec. 7-199.     To appoint committees.To appoint committees of 3 or more trustees to perform such functions as  may be directed by the board.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-199.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-199.1)Sec. 7-199.1.         To administer a joint group accident and health  insurance program in accordance with this Section.(a) The board may purchase and administer a joint group accident and  health insurance policy as defined in Section 4 of the "Illinois Insurance  Code", approved June 29, 1937, as amended, for the benefit of one or more  classes of employees or retired employees of participating municipalities  and participating instrumentalities, or their spouses or surviving  spouses.(b) All participating municipalities and participating instrumentalities  are hereby authorized to participate in any such joint group accident and  health insurance policy established under this Section.(c) The board may promulgate such rules as may be necessary or  convenient relating to the purchase and administration of any such policy,  and to the conditions and terms of participation therein and withdrawal  therefrom by participating municipalities and participating instrumentalities.(d) Any monies received by the board relating to its duties under this  Section shall not be deemed contributions to or assets of the fund, and all  such monies shall be held by the board in a separate account.(e) The board shall submit an annual report of its activities under this  Section to each municipality and instrumentality participating in a policy  administered under this Section.(f) The group accident and health insurance program established under  this Section is not and shall not be construed to be a pension or retirement  benefit for purposes of Section 5 of Article XIII of the Illinois Constitution  of 1970.    (Source: P.A. 84-812.)
40 ILCS 5/7-199.2
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-199.2)Sec. 7-199.2.     To determine unfunded liability.     To cause to be  actuarially determined the unfunded liability existing in the Fund as of the  date provided by subsection (c) of Section 5-1 of the School Code by reason  of annuities and other benefits payable and to become payable from the Fund  to persons specified in that subsection with respect to periods of service  ending on or before that date, to report the amount so determined to each  school board required under that subsection to pay a proportionate share of  that amount to the Fund, and to receive and apply in accordance with this  Article all amounts so paid to the Fund by those school boards.    (Source: P.A. 87-473.)
40 ILCS 5/7-199.3
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

Sec. 7-199.3.         To establish and administer deferred compensation and  tax-deferred annuity programs for units of local government.The Board may establish and administer deferred compensation, tax deferred  annuity, and similar tax-savings programs for employees of units of local  government, which shall be known as the "IMRF-Plus" program.  The program shall  provide for the Board to review proposed investment offerings and shall require  that only investments determined to be acceptable by the Board may be used for  investing compensation contributed to the program.The program shall include appropriate provisions pertaining to its day to day  operation, including methods of electing to contribute income, methods of  changing the amount of income contributed, methods of selecting from among  investment options available under the program, and any other provisions that  the Board may deem appropriate.The program shall provide for the preparation of pamphlets describing the  program and outlining the options and opportunities available to local  government employees under the program.  These pamphlets shall be distributed  from time to time to all eligible employees.The program established under this Section shall not be implemented or  amended until the Board is satisfied that compensation contributed under the  program is not subject to income tax for the year in which it is earned and  that the taxation of such compensation will be deferred until the time of its  distribution to the employee.The program shall also provide for the recovery of the expenses of its  administration by charging those expenses against the earnings from  investments, by charging fees equitably prorated among the participating local  government employees, or by some other appropriate and equitable method  determined by the Board.  Different methods for recovery of administrative  expenses may be provided in relation to different types of investment programs,  and the Board may provide for the allocation of administration expenses among  varying types of programs for this purpose.The Board shall review and oversee the administration of the program.This Section does not limit the power or authority of any unit of local  government, school district, or institution supported in whole or in part by  public funds to establish and administer any other deferred compensation plans  or tax-deferred annuity programs that may be authorized by law.    (Source: P.A. 90-448, eff. 8-16-97.)
40 ILCS 5/7-200
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-200)Sec. 7-200.     To carry on other duties.To carry on generally any other reasonable activities, including,  without limitation, the making of administrative decisions on participation  and coverage, which are necessary for carrying out the intent of this fund  in accordance with the provisions of this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/7-201
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 7 - Illinois Municipal Retirement Fund

 (from Ch. 108 1/2, par. 7-201)Sec. 7-201.         The assets of the fund in excess of the amount of  cash required for current operation as determined by the board shall be  invested, subject to the requirements and restrictions set forth in Sections  1-109, 1-109.1, 1-109.2, 1-110, 1-111, 1-114 and 1-115 of this Code.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 "An Act relating to certain  investments of public funds by public agencies", approved July 23, 1943, as  now or hereafter amended.  The limitations set forth in such Section 6  shall be applicable only at the time of investment and shall not require  the liquidation of any investment at any time.The board may sell any security belonging to the fund at any time in  its judgment that it is necessary or desirable to do so.The board shall have the authority to enter into such agreements and to  execute such documents as it determines to be necessary to complete any  investment transaction.All investments shall be clearly held and accounted for to indicate ownership  by the board.  The board may direct the registration of securities or the  holding of interests in real property in its own name or in the name of a  nominee created for the express purpose of registration of securities or  the holding of interests in real property by a savings and loan  association or 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 book value in accordance with  generally accepted accounting principles and accounting procedures approved  by the board.The book value of investments held by any pension fund or retirement system  in one or more commingled investment accounts shall be the cost of its units  of participation in such commingled account or accounts as recorded on the  books of the board.    (Source: P.A. 89-136, eff. 7-14-95.)