reglab/housing_qa huggingface dataset:
40 ILCS 5/12-157
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-157)Sec. 12-157.     Board vacancy.If a vacancy shall occur in the membership of the board, due to death,  resignation or other cause, said vacancy shall be filled by appointment. If  the vacant membership be of appointive character, appointment for the  unexpired portion of such term shall be made by the board of park  commissioners, and if it be of elective character, it shall be filled by  appointment by the elective members of the board, provided that the person  appointed to the vacancy of an elective member shall be an employee. The  persons so appointed to elective membership shall serve until an employee  who shall be elected to serve for the unexpired portion of such term shall  be chosen. Such election shall be held concurrently with and in the same  manner as the next regular annual election.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-158
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-158)Sec. 12-158.     Board officers.     The board shall elect from its  membership a president, a vice president and a secretary, all of whom  shall serve without salary, except that the secretary, if not an  employee as defined herein, may be compensated during his tenure in the  office of secretary in an amount not to exceed $2,400 per year.    (Source: P.A. 81-697.)
40 ILCS 5/12-159
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-159)Sec. 12-159.     Board's powers and duties.         The board shall have the powers and duties stated in Section 12-160 to  12-169, inclusive, in addition to the other powers and duties provided in  this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-160
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-160)Sec. 12-160.     To determine service credits.To determine the length of service of each present employee rendered  prior to the date when he comes under the provisions of "The 1919 Act" or  this Article, including all service rendered to any employer as defined  herein; to require each employee to file with the board a detailed  statement of all such service rendered by him and to prescribe rules and  regulations for the filing of such statements; to fix the period for which  such employee shall receive credit for prior service from such information  as is available, if the employee fails to file the aforesaid statement, or  if the board is unable to verify such statement; to certify such statement  and issue a certificate to the employee stating the length of prior service  allowed.Such certificate shall be final and conclusive as to length of prior  service and amount of credit unless modified by the board, either of its  own volition or upon application of the employee, within one year from the  date when the certificate or a modified certificate is issued.All leaves of absence without pay shall be excluded in computing prior  service, and leaves of absence on full or part pay shall be included in  computing the prior service.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-161
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-161)Sec. 12-161.     To supervise contributions.     To see that all employee contributions by way of salary deductions  and contributions by each employer are made, and that all funds  collected are deposited when collected with the custodian of the fund;  and to certify to each employer the amount to be deducted from the salary  of each employee.    (Source: P.A. 81-1536.)
40 ILCS 5/12-162
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-162)Sec. 12-162.     To have exclusive original jurisdiction.To have exclusive original jurisdiction in all matters relating to or  affecting the fund, including, in addition to all other matters, all claims  for annuities, benefits or refunds under this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-163
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-163)Sec. 12-163.     To see that duties of employer are performed.To see that all the other duties under this Article of each employer are  being performed, and in the event that an employer fails to perform any  duties imposed on said employer under the provisions of this Article to  take such steps as in its judgment seem advisable to enforce compliance by  the employer with the provisions of this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-164
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-164)Sec. 12-164.     To appoint custodian.To appoint annually a custodian of the fund; and to deposit all moneys  received or accruing to the fund with the custodian.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-165
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-165)Sec. 12-165.     To manage fund.To have exclusive control and management of all moneys, securities and  other property of said fund; and to defray the total cost of administration  of this Article by means of the tax levy authority provided herein.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-166
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-166)Sec. 12-166.     To invest money.     To invest and reinvest 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 investments shall be purchased or sold or in any manner hypothecated  except by the action of the board duly entered in the record of its  proceedings.The board may hold, purchase, sell, assign, transfer or dispose of any  of the securities and investments in which any of the moneys of the fund  or the proceeds of those investments have been invested.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.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 of trustees of any fund established under this Article 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 retirees 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 retirees 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. 90-766, eff. 8-14-98.)
40 ILCS 5/12-166.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-166.1)Sec. 12-166.1.         Participation in commingled investment funds-Transfer of  investment functions and securities.(a) The retirement 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. The book value of all  commingled equity participations plus the book value of other stock  investments owned by this system shall not exceed the maximum permissible  percentage rate for equity investments prescribed in Section 12-166. 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 retirement 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 retirement 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. 78-645.)
40 ILCS 5/12-166.2
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-166.2)Sec. 12-166.2.     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.  The agreement shall provide that during the period of  the loan the Fund shall retain the right to receive, or collect from the  borrower, all dividends, interest rights, and any distributions to which  the Fund would have otherwise been entitled.  The borrower shall deposit  with the Fund as collateral for the loan cash, U.S. Government securities,  or letters of credit 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 requests an additional amount because of subsequent increases  in the  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. 87-1265.)
40 ILCS 5/12-167
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-167)Sec. 12-167. To keep records, books and prepare reports.   To keep a record of all its proceedings which shall be open to  inspection by the public; to keep such books and records as are necessary  for the transaction of its business; and to prepare a report, as of the last day    of each fiscal year, setting forth the income and disbursements of the fund for  the year, and the amount of its assets and liabilities at the close of the  year. Such statement shall include, among other things, the following  information:(a) the total of the reserves on all annuities being     paid and to be paid from the fund to employees and widows whose annuities are determined but not entered upon, calculating such reserves as if the annuities were actually entered upon;(b) the total of the liabilities of the employer for     prior service annuities and widow's prior service annuities, including the present values of such annuities that are entered upon. (Source: P.A. 97-973, eff. 8-16-12.)
40 ILCS 5/12-168
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-168)Sec. 12-168. To have an audit.   To have an annual audit of the books, records and reserves of the fund  as of the last day of each fiscal year, by a certified public accountant. A copy of  the report of such audit shall be filed with the board of park  commissioners, and a synopsis thereof shall be prepared for public  distribution.  (Source: P.A. 97-973, eff. 8-16-12.)
40 ILCS 5/12-169
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-169)Sec. 12-169. To appoint employees.   To appoint such actuarial, legal, medical, clerical and other employees  as may be necessary in the administration of the fund and fix their  compensation.One or more actuaries shall be employed with duty to determine the  amount of money necessary to be provided under this Article, and to assist  the board in preparing the annual statement as of the last day of each fiscal year, and  to certify to the correctness thereof.  (Source: P.A. 97-973, eff. 8-16-12.)
40 ILCS 5/12-170
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-170)Sec. 12-170.     Custodian of fund.     All payments from the fund shall be made by the custodian of the fund  only, and only upon warrant of or voucher signed by the president or  vice-president of the board and countersigned by the secretary of the  board. No warrant or voucher shall be drawn except by order of the board  duly entered in the record of its proceedings.    (Source: P.A. 86-272.)
40 ILCS 5/12-171
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-171)Sec. 12-171.     Money which may be held on deposit.     The board may keep as an available sum for the purpose of making  payments for annuities and other benefits, such an amount as shall be  estimated by the board as being necessary to meet the current disbursements  for a period not to exceed 90 days. Such sum shall be kept on deposit in  any bank or savings and loan association in this State organized under  the laws thereof or under the laws  of the United States, or with any trust company incorporated under the laws  of this State; provided said bank, savings and loan association or trust  company shall furnish adequate  security for said sum; and provided further that the sum so deposited shall  not exceed 25% of the paid-up capital and surplus of said bank, savings  and loan association or trust  company.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 5/12-171.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-171.1)Sec. 12-171.1.     Records.     The board shall maintain adequate accounting  records that reflect the financial condition of the fund, and such  additional data as are necessary for required calculations, actuarial  valuations, and operation of the fund.    (Source: P.A. 87-1265.)
40 ILCS 5/12-177
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-177)Sec. 12-177.     Employee accounts.     The amounts contributed by employees for  service annuity and spouse's service annuity shall be credited to this account;  also all amounts contributed by the employer in lieu of deductions from salary  in cases of ordinary or duty disability.An individual account shall be kept with each employee. As contributions by  or on behalf of the employee are made, each such account shall be credited with  the amounts thereof. At least once each year each account shall be credited  with regular interest.    (Source: P.A. 87-1265.)
40 ILCS 5/12-183
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-183)Sec. 12-183. Annual actuarial valuation.   An actuarial valuation shall be made annually of the liabilities and  reserves for present and prospective annuities and benefits, and beginning January 1, 2013   a general investigation shall be made and shall be completed  every 5 years thereafter of the operating experience of the fund as to  mortality, disability, retirement, marital status of employees, withdrawal  from service without right to annuity, investment earnings and other  factors of actuarial criteria.Upon the basis of the annual actuarial valuation and quinquennial  actuarial investigations, the actuary shall recommend the tables to be used  in the annual valuations and in current operations including the prescribed  rate of interest, and shall advise the board on any matters of actuarial  character affecting the financial condition of the fund and its operations.  (Source: P.A. 97-973, eff. 8-16-12.)
40 ILCS 5/12-185
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-185)Sec. 12-185.     Duties of employer.     It shall be the duty of each employer hereunder to:(a) notify each person to whom this Article shall apply before  employing him of his duties and obligations under this Article as a  condition of his employment;(b) notify the board of the employment of new employees, removals,  withdrawals, deaths and changes in salary of employees, setting forth  the dates upon which such employments, removals, withdrawals, deaths and  changes in salaries occurred;(c) furnish such other information to the board as the board may  reasonably require hereunder in the discharge of its duties;(d) deduct from the salary  of each employee, for each and every  payroll period, such amounts as shall be required under the provisions  of this Article. Each employer shall certify to the treasurer of said  employer, on each and every payroll, a statement as voucher for the  amount so deducted, and shall send a duplicate of such  statement to the  board. The treasurer of each employer, on receipt of such voucher for  deductions from salaries of employees, shall  transmit to the board the  amounts specified in such voucher.(e) Keep such records as the board may require hereunder.    (Source: P.A. 81-1536.)
40 ILCS 5/12-186
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-186)Sec. 12-186.     No commissions or compensation.No member of the board, nor any one connected with the board, shall have  any interest, direct or indirect, in the gains or profits of any investment  made by such board, nor as such, directly or indirectly, receive any pay or  emoluments for his services. Nor shall any such person as an agent or  partner of others borrow any funds or deposits, or in any manner use the  same, except to make such current and necessary payments as are authorized  by the board. Nor shall any member of said board, or anyone connected with  said board, become an endorser or surety or become in any manner an obligor  for moneys loaned by or borrowed of any such board.    (Source: Laws 1963, p. 161.)
40 ILCS 5/12-187
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-187)Sec. 12-187.     Condition of employment.     Any person included as an employee  as defined in this Article, or any person who shall hereafter be included  as an employee, shall by such employment accept the provisions of this Article  and thereupon become a contributor in accordance with the provisions hereof.  The provisions of this Article shall become a condition of employment of  such person and part  of any contract of employment entered into by and with any such person.    (Source: P.A. 86-272.)
40 ILCS 5/12-188
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-188)Sec. 12-188.     Employees under legal disabilities.     In the event that an employee is adjudicated to be a person under legal  disability by  a court having jurisdiction to so determine and a guardian  is appointed  by a court having jurisdiction so to do, such guardian may, with the  approval of the court, execute such documents, including resignations from  the service, as may be necessary for the protection and best interests of  the employee.    (Source: P.A. 83-706.)