reglab/housing_qa huggingface dataset:
40 ILCS 5/8-193
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. 8-193)Sec. 8-193.     Board elections.     In each year, the board shall conduct a regular election, under rules  adopted by it, at least 30 days prior to the expiration of the term of  the employee member whose term next expires, for the election of a  successor for a term of 3 years. Each employee member and his successor  shall be an employee who holds a position by certification and  appointment as a result of a competitive civil service examination as  distinguished from temporary appointment for a period of not less than 5  years prior to the date of election or so holds a position which is not  exempt from the classified or the personnel ordinance by a city that adopted  a career service ordinance. At any such election including the  initial election and special elections to fill vacancies in such office,  all persons who are employee participants at the time such election is  held, shall have a right to vote. The ballot shall be of secret  character.Any elective member of the board shall hold office until his  successor is elected and qualified.Any person elected or appointed as a member of the board shall  qualify by taking an oath of office to be administered by the city  clerk. A copy thereof shall be kept in the office of the city clerk.    (Source: P.A. 81-782.)
40 ILCS 5/8-194
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. 8-194)Sec. 8-194.     Board vacancy.A vacancy in the membership of the board shall be filled as follows:If the vacancy is that of an ex-officio member, the mayor of the city  shall appoint a person to serve until a person qualified as hereinbefore  described shall assume the duties of member. If the vacancy is that of an  elective office the remaining elective members of the board shall appoint a  successor from among the employees who shall serve until an employee is  elected and qualified for the remainder of the unexpired term. The employee  shall be elected at a special election to be held concurrently with and in  the same manner as the next regular election for an employee member.Any elective member who leaves the service of the employer or becomes a  member of any other annuity and benefit fund, or any pension fund, shall  automatically cease to be a member of the board.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-195
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. 8-195)Sec. 8-195.     Board officers.The board shall elect annually at its regular  December meeting from  among its members, by a majority vote of the members voting upon the  question, a president and a recording secretary who shall serve,  respectively, until a successor is elected. The secretary shall keep a  complete record of the proceedings of all board meetings and perform such  other duties as the board directs.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-196
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. 8-196)Sec. 8-196.     Board meetings.The board shall hold regular meetings in the months of March, June,  September and December annually and special meetings as it deems necessary.  A majority of the members shall constitute a quorum for the transaction of  business at any meeting, but no annuity or benefit shall be granted or  payments made by the fund unless ordered by a vote of a majority of the  board members.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-197
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. 8-197)Sec. 8-197.     Board powers and duties.         The board shall have the powers and duties stated in Sections 8-198 to  8-209, inclusive, in addition to such other powers and duties provided in  this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-198
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. 8-198)Sec. 8-198.     To supervise collections.To see that all amounts specified in this Article to be applied to the  fund, from any source, are collected and applied.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-199
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. 8-199)Sec. 8-199.     To notify of deductions.     To notify the city comptroller and the Board of Education of the city  and the chief clerk of the board of the deductions  to be made from the salaries of employees.    (Source: P.A. 81-1536.)
40 ILCS 5/8-200
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. 8-200)Sec. 8-200.     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 5/8-201
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. 8-201)Sec. 8-201.     To invest the reserves.     To invest the reserves of the fund in  accordance with Sections 1-109, 1-109.1, 1-109.2, 1-110, 1-111, 1-114, and  1-115 of this Act.  Investments made in accordance with Section 1-113 shall be  deemed to be prudent.The retirement board may sell any security held by it at any time it deems it  desirable.The board may enter into agreements and execute 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 board.  The board may direct the registration of securities in its own  name or in the name of a nominee created for the express purpose of  registration of securities 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.Investments shall be carried at cost or at book value in accordance with  accounting procedures approved by the board.  No adjustments shall be made in  investments carrying values for ordinary current market price fluctuations, but  reserves may be provided to account for possible losses or unrealized gains, as  determined by the board.The book value of investments held by the fund in commingled investment  accounts shall be the cost of its units of participation in those commingled  accounts as recorded on the books of the board.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 that 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 the  resolution by the board and the 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. 90-31, eff. 6-27-97.)
40 ILCS 5/8-201.1
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. 8-201.1)Sec. 8-201.1.         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, 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 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. 86-1488.)
40 ILCS 5/8-202
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. 8-202)Sec. 8-202.     To have an audit.To have an audit of the accounts of the fund made at least once each  year by certified public accountants.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-203
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. 8-203)Sec. 8-203.     To authorize payments.To authorize or suspend the payment of any annuity or benefit in  accordance with this Article. The board shall have exclusive original  jurisdiction in all matters relating to the fund, including, in addition to  all other matters, all claims for annuities, pensions, benefits or refunds.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-204
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. 8-204)Sec. 8-204.     To determine service credits.To require each employee to file a statement concerning service rendered  the employer, the Retirement Board, and the Board of Trustees of any  municipal pension fund as defined in this Article, prior to the effective  date. The board shall make a determination of the length of such service  and establish from any available information, the period of service  rendered prior to the effective date.Such determination shall be conclusive unless the board reconsiders and  changes its determination.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-205
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. 8-205)Sec. 8-205.     To issue certificate of prior service.To issue a certificate showing the entire period of service rendered by  a present employee prior to the effective date and the amounts to his  credit for prior service and widow's prior service annuity.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-206
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. 8-206)Sec. 8-206.     To submit an annual report.To submit a report in June of each year to the city council of the city  as of the close of business on December 31st of the preceding year. The  report shall contain a detailed statement of the affairs of the fund, its  income and expenditures, and assets and liabilities, and the status of the  several reserves.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-207
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. 8-207)Sec. 8-207.     To subpoena witnesses.To compel witnesses to attend and testify before it upon any matter  concerning the fund and allow witness fees not in excess of $6 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 5/8-208
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. 8-208)Sec. 8-208.     To appoint employees.     To appoint such actuarial, medical,  legal, clerical or other employees as are necessary and fix their  compensation. The board shall develop procedures for obtaining, by contract  or employment, any necessary professional assistance including investment  advisors and managers, auditors, actuaries, and medical and legal  professionals, for any vacancies which may arise after December 31, 1987.    (Source: P.A. 85-964.)
40 ILCS 5/8-209
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. 8-209)Sec. 8-209.     To make rules.To make rules and regulations necessary for the administration of the  fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-210
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. 8-210)Sec. 8-210.     Moneys to be held on deposit.     To make the payments authorized by this Article, the board may keep and  hold uninvested a sum not in excess of the amounts required to make such  payments estimated to be due in the following 90 days. Such sum or any part  thereof shall be kept on deposit only in any bank or savings and loan  association authorized to do business. The  amount which may be deposited in any such bank or savings and loan association  shall not exceed 25% of its  paid up capital and surplus.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 5/8-211
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. 8-211)Sec. 8-211.     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 8-212 to 8-221, inclusive,  shall be maintained.    (Source: P.A. 85-964.)
40 ILCS 5/8-212
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. 8-212)Sec. 8-212.     Expense reserve.Amounts contributed by the city to defray the cost of administration of  the fund shall be credited to this reserve. Expenses of administration  shall be charged to it.    (Source: Laws 1963, p. 161.)
40 ILCS 5/8-213
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. 8-213)Sec. 8-213.     City contribution reserve.     Amounts contributed by the  city for age and service annuity, widow's annuity and supplemental  annuity (except those in lieu of deductions from the salary contributed  of an employee who receives duty disability benefit), the assets of the  public school employees' pension fund superseded by this fund on July 1,  1923 which were transferred to this reserve, and all amounts transferred  to this reserve from the investment and interest reserve, shall be  credited to this reserve.At least once each year, before any transfer shall be made from this  reserve to any other reserve, the sums credited in this reserve shall be  improved by interest.When the annuity for an employee or his widow is fixed, and when  supplemental annuity for a widow first becomes payable, the amount in  this reserve for such annuity shall be transferred to the annuity  payment reserve.If the credit in this reserve of any employee who withdraws from  service before he attains age 65 is in excess of that required for his  age and service annuity, or in excess of that required for widow's  annuity (either or both), such amounts shall be retained in this reserve  and improved by interest at the effective rate until the employee  becomes age 65 or dies, whichever occurs first. Any such amounts shall  then be used to reduce city contributions.With respect to employees whose wages are funded as participants  under CETA, the board may elect to establish a separate manpower program  reserve or account for funds made available by the federal government  towards the employer's contribution. The manpower program reserve will  be administered as is the City contribution reserve, except that where  at variance it will be administered in accordance with the rules and  regulations established by the Secretary of the United States Department  of Labor or his designee.At the time that employees previously funded as participants under  CETA lose their participant status and obtain unsubsidized employment  with the employer, unsubsidized employment with another employer  provided that benefits are portable, or obtain vesting status, as  defined by the Secretary of Labor or his designee, a transfer of funds  equivalent to the amount of contributions made for such employees will  be made out of the manpower program reserve. For prior CETA participants  who continue as employees in public service which is covered by a  participating retirement system, the sums will be credited to the  regular City contribution reserve.    (Source: P.A. 81-1536.)
40 ILCS 5/8-214
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. 8-214)Sec. 8-214.     Employee's contribution reserve.     Amounts deducted from employee's salaries for age and service annuity  and widow's annuity, or otherwise contributed by employees, amounts  contributed by the city for such annuities for an employee receiving  duty disability benefit, the assets of the public school employees'  pension fund superseded by this fund on July 1, 1923, which were  transferred to this reserve, and amounts transferred to this reserve  from the investment and interest reserve, shall be credited to this  reserve.An individual account shall be kept in this reserve for each employee  to which such salary deductions, interest, and contributions shall be  credited. At least once each year, and before any transfer shall be made  from this reserve to any other reserve the sums credited in this reserve  shall be improved by interest.When the annuity for any employee or his widow is fixed or granted,  the amount in this reserve for such annuities shall be transferred to  the annuity payment reserve.There shall be charged to this reserve amounts refunded as provided  in this Article, except refunds under Section 8-215.    (Source: P.A. 81-1536.)
40 ILCS 5/8-215
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. 8-215)Sec. 8-215.     Annuity payment reserve.     Amounts transferred from the city contribution reserve and the  employee's contribution reserve for annuities which have been fixed,  amounts deducted from an employee's salary after the age and service  annuity has been fixed, and amounts transferred to this reserve from the  investment and interest reserve, shall be credited to this reserve.Age and service annuities and widow's annuities shall be charged to  this reserve. Amounts refunded in accordance with Section 8-170 and  Section 8-154 of this Article shall be charged to this reserve.When an employee whose annuity was fixed or granted re-enters service  before age 65, an amount determined under the provisions governing  re-entry into service shall be charged to this reserve and transferred  to the city contribution reserve and the employee's contribution  reserve, respectively, for age and service annuity. Such amount shall be  divided in said reserves in the same ratio as that in which the previous  transfer from such reserve to this reserve was made.If the wife of the employee, when he re-enters service, is the same  as when the widow's annuity was fixed, an amount to be determined under  the provisions governing re-entry into service shall be transferred from  this reserve and credited for widow's annuity in the city contribution  reserve and the employee's contribution reserve, respectively. Such  credit shall be in the same ratio as that in which the previous transfer  was made.If at the end of any year the balance of the annuity payment reserve  exceeds the liabilities chargeable thereto by more than 15% of the  liabilities, the excess shall be transferred to the investment and  interest reserve, ordinary disability reserve, expense reserve, prior  service annuity reserve, and city contribution reserve, in the order  named, to remove any deficiency existing in any such reserves, provided  that at the end of each year such amount as may be necessary for  employees of the board for service rendered prior to July 1, 1935 shall  be transferred to the city contribution reserve before any transfer to  any of the other reserves shall be made.    (Source: P.A. 81-1536.)