reglab/housing_qa huggingface dataset:
40 ILCS 5/16-171
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-171)Sec. 16-171. To sue and be sued. To sue and be sued in the name of the board.  The board shall not be a corporation. The board may sue to protect any  rights of the retirement system. All actions brought by or against the  board shall be prosecuted or defended, as the case may be, by the Attorney  General. If the board pursues a mandamus action under Section 16-158.2 of this Code as amended by Senate Bill No. 1 of the 98th General Assembly in the form passed by the General Assembly, then the board may select the counsel of their choice.  (Source: P.A. 98-598, eff. 12-5-13.)
40 ILCS 5/16-172
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-172)Sec. 16-172.     To pay obligations and collect funds due.     To pay promptly expenses and other obligations that accrue under  this Article and to  see that all revenue, including contributions, due the system  is collected without unreasonable delay.    (Source: P.A. 83-1440.)
40 ILCS 5/16-173
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-173)Sec. 16-173.     To maintain records and accounts.     To maintain a separate account for each individual member and annuitant;  to maintain adequate accounting records which shall reflect the financial  condition of the system, and such additional data as shall be necessary for  required calculations, actuarial valuations, and operation of the system;  to have the records of the system photographed, microfilmed or otherwise  reproduced, which photographs, microfilms or reproductions shall be deemed  original records for all purposes.    (Source: P.A. 83-1440.)
40 ILCS 5/16-174
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-174)Sec. 16-174.     To maintain record of proceedings, etc.     To maintain a permanent record of all board  proceedings, which shall be open to public inspection.    (Source: P.A. 83-1440.)
40 ILCS 5/16-175
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-175)Sec. 16-175.     To make annual report.     To make an annual financial report for each fiscal year ended June 30.A copy of the report shall be transmitted to the State Board of  Education. The report of the retirement system shall contain a summary  of the fiscal transactions for the preceding fiscal year,  the amount of the  accumulated cash and securities, and a balance sheet indicating  the system's financial condition by means of an actuarial  valuation.    (Source: P.A. 83-1440.)
40 ILCS 5/16-176
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-176)Sec. 16-176. To adopt actuarial assumptions. At least once every 3 years, the actuary, as technical advisor,  shall make an actuarial  investigation into the mortality, service and compensation experience of the  members, annuitants, and beneficiaries of the retirement system.   Based upon  the result of that investigation, the board shall adopt such  actuarial assumptions as it deems appropriate.The actuarial investigation required under this Section shall include the System's experience under the early retirement without discount option established in Section 16-133.2, including consideration of the sufficiency of the member and employer contributions under Section 16-133.2 and the active member contribution under Section 16-152 to adequately fund the early retirement without discount option. The Board shall promptly communicate the results of the actuarial investigation to the Commission on Government Forecasting and Accountability. Based on the actuarial  investigation, the Commission on Government Forecasting and Accountability shall, no later than February 1 of the next year,  recommend to the General Assembly any proportional adjustment in the amounts of the member and employer contributions under Section 16-133.2 that it deems necessary.The early retirement without discount option under subsection (c) of Section 16-133.2 is extended  as provided in subsection (d) of that Section. The early retirement without discount option under subsection (d) of Section 16-133.2  terminates on July 1, 2016.(Source: P.A. 98-42, eff. 6-28-13; 99-232, eff. 8-3-15.)
40 ILCS 5/16-178
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-178)Sec. 16-178.     To receive gifts and legacies.     To receive any gifts or legacies for the benefit of the retirement  system.    (Source: P.A. 83-1440.)
40 ILCS 5/16-179
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-179)Sec. 16-179.     To be trustee of reserves and to invest funds.     To  be the trustee of the reserves created under this Article,  and to invest and reinvest such reserves, 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.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 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 system.  The board may direct the registration of securities or the  holding in interests in real property in the name of the system or in the name  of a nominee created for the express purpose of registration of 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 system 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.     (Source: P.A. 90-19, eff. 6-20-97; 90-448, eff. 8-16-97.)
40 ILCS 5/16-179.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-179.1)Sec. 16-179.1.         To  transfer investment functions and securities.  The board may, by resolution  duly adopted by a majority  vote of its membership, transfer to the Illinois State Board of Investment  created by Article 22A, for management and administration, all  investments owned by the system of every kind and character.  Upon completion  of such transfer, the authority of the board to make investments  shall terminate. Thereafter, all investments of the assets  of the system shall be made by the Illinois State Board of  Investment in accordance with  the provisions of Article 22A.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 board.    (Source: P.A. 83-1440.)
40 ILCS 5/16-179.2
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-179.2)Sec. 16-179.2.     To Create and Maintain a Salary Reduction Plan.     (1) To  develop a Salary Reduction Plan for members as permitted under the relevant  Sections of the Internal Revenue Code.(2) To contract with school districts and other employers for the  creation and maintenance of a uniform Salary Reduction Plan for system members.(3) To adopt all rules necessary and reasonable for the implementation  of this Section.    (Source: P.A. 84-1028.)
40 ILCS 5/16-181
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-181)Sec. 16-181.     To make deposits.     To keep sufficient cash on deposit in one or more banks, savings and loan  associations or trust companies, organized under the laws of the State of  Illinois or of the United States, for the purpose of making disbursements  for annuities and other expenses; provided that the sum on deposit in any  one bank, savings and loan association or trust company shall not exceed  25% of the paid up capital and surplus of the depository.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. 83-1440.)
40 ILCS 5/16-181.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-181.1)Sec. 16-181.1.     To provide office space.     To rent, lease, or acquire  such space as may be necessary for the proper administration of the system.    (Source: P.A. 83-1440.)
40 ILCS 5/16-181.2
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-181.2)Sec. 16-181.2.     To furnish statements.     To furnish annually a statement  of account to each teacher.    (Source: P.A. 83-1440.)
40 ILCS 5/16-181.3
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

Sec. 16-181.3.     To prescribe the manner of payment.     To prescribe by rule  the manner of repaying refunds and purchasing the various optional service  credits permitted under this Article.  The rules may prescribe the conditions  under which installment payments or partial payments may be accepted and may  specify the method of computing any interest due.    (Source: P.A. 90-448, eff. 8-16-97.)
40 ILCS 5/16-181.4
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

Sec. 16-181.4. To request information. To request such information from any member, annuitant, beneficiary, or employer as is necessary for the proper administration of the System.  (Source: P.A. 99-450, eff. 8-24-15.)
40 ILCS 5/16-182
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-182)Sec. 16-182. Members' Contribution Reserve. On July 1, 2003, the  Members' Contribution Reserve is abolished and the remaining balance shall be  transferred from that Reserve to the Benefit Trust Reserve.       (Source: P.A. 95-331, eff. 8-21-07.)
40 ILCS 5/16-184
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-184)Sec. 16-184.     Supplementary Annuity Reserve.     On July 1, 2003, the Supplemental Annuity  Reserve is abolished and any remaining balance shall be transferred from that  Reserve to the Benefit Trust Reserve.    (Source: P.A. 93-469, eff. 8-8-03.)
40 ILCS 5/16-185
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-185)Sec. 16-185.     Benefit Trust Reserve.(a) On July 1, 2003, the Employer's Contribution Reserve shall be  renamed the Benefit Trust Reserve.  The Benefit Trust Reserve  shall serve as a clearing account for income and expenses of the System as  well as transfers to and from the other reserve accounts established under  this Article and adjustments thereto.(b) This Reserve shall be credited with all contributions, investment  income, and other income received by the System, except as otherwise  required by this Article.(c) This Reserve shall be charged with all benefits and refunds paid and  all other expenses of the System, except as otherwise required under this  Article.    (Source: P.A. 93-469, eff. 8-8-03.)
40 ILCS 5/16-186.3
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-186.3)Sec. 16-186.3.     Reserve for minimum retirement annuity.(a) A Minimum Retirement Annuity Reserve is established for the purpose  of crediting funds received and charging disbursements for minimum retirement  annuity payments under Section 16-136.2 and Section 16-136.3.This Reserve shall be credited with:(1) The total of all contributions made by annuitants     to qualify for the minimum retirement annuity.(2) Amounts contributed to the System by the State of     Illinois that are sufficient to assure payment of the minimum retirement annuity payments under Section 16-136.2 and Section 16-136.3.(3) Regular interest computed annually on the average     balance in this Reserve.This Reserve shall be charged with all minimum retirement annuity  payments under Section 16-136.2 and Section 16-136.3.(b) After all minimum retirement annuity payments have been completed,  any remaining funds shall be transferred from this Reserve to the Benefit  Trust Reserve.    (Source: P.A. 93-469, eff. 8-8-03.)
40 ILCS 5/16-187
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-187)Sec. 16-187.     Custodian of fund - warrants and vouchers - audits.(a) The State Treasurer is ex-officio custodian of the funds of the  retirement system. He or she may process  payments from the funds of the system for  the purposes herein specified upon warrants or direct deposit transmittals  of the State Comptroller.  Commencing January 1, 1987, the State Treasurer shall credit interest, at  current rates, for any monies directly held.  Such interest shall be  calculated using an average daily cash basis.  He or she shall be liable on the Treasurer's  official bond for the proper performance of duties and be  held accountable for all cash and securities in his or her  custody.  He or she shall keep books and  accounts in the manner prescribed by the board, and they shall always be  subject to the inspection of the board or any member thereof.(b) The State Comptroller may draw warrants or prepare direct deposit  transmittals payable from the fund upon  the State Treasurer for the purposes herein provided upon the  presentation of vouchers approved by the secretary of  the board.  The board shall file with the State Comptroller an attested  copy of a resolution designating such persons as his authority for making  payments upon such vouchers.(c) At the end of each fiscal year, the board shall have the  accounts and records of the system audited by a person authorized to  practice public accounting under the laws of this state selected by the  Auditor General.  Copies of all audits performed shall be filed with the  State Board of Education and the Auditor General.    (Source: P.A. 90-448, eff. 8-16-97.)
40 ILCS 5/16-189.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-189.1)Sec. 16-189.1.     Benefits payable monthly.     Retirement annuities and other  benefits, unless otherwise specified in this Article, shall be paid in 12  monthly installments as of the first day of each month and shall cover the  preceding month or proportionate part thereof then due. Provided,  however, upon the death of a member in receipt of a benefit, an annuitant  or a beneficiary, benefits shall be paid through the last day of the month  in which death occurs.    (Source: P.A. 84-1028.)
40 ILCS 5/16-190
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-190)Sec. 16-190.     Annuities, etc., - exempt.     The right of a person to a retirement annuity or other benefit, to the  return of contributions, the retirement annuity or  other benefit itself,  any optional benefit, any other right accrued  or accruing to any person under the provisions of this Article, and the  moneys in the fund created by this Article, shall be subject neither to  attachment, garnishment, execution, or other seizure by process, nor to  sale, pledge, mortgage or other alienation, and shall not be assignable  except as in this Article provided. A person receiving an annuity or benefit  may authorize withholding from such annuity or benefit for the purposes  enumerated in the "State Salary and Annuity Withholding Act", approved August  21, 1961, as now or hereafter amended. The moneys in the fund are exempt from  any state or municipal tax.    (Source: P.A. 83-1440.)
40 ILCS 5/16-190.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-190.1)Sec. 16-190.1.         Payment of benefits on account of minors, disabled persons  and others.  Benefits under this Article due minors or disabled persons  as defined in Section 16-140(4) may be paid (1) to any person who has legally  qualified and is acting as guardian of the minor's or disabled person's person  or property in any jurisdiction; or (2) to a parent of the minor or to any  adult person with whom the minor or disabled person may be residing, provided  the board is assured that the moneys will be held in trust or used for the  support of the minor or disabled person; or (3) to the trustee of a trust  established for the benefit of the minor or disabled person. In addition, an  adult person to whom benefits under this Article may be paid, while of sound  mind and memory, may designate in writing any adult person with whom he or she  resides or who provides responsible assistance or advice to him or her in the  conduct of his or her affairs to receive benefits due or to become due to him  or her under this Article, and benefits may be paid in accordance with such  designation provided the board is assured that the same will be held in trust  or used for the support of the person making such designation.  The written  receipt from the parent or other adult person shall constitute an absolute  discharge of the system's liability in respect of the amounts paid by the  system.    (Source: P.A. 87-1265.)
40 ILCS 5/16-191
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-191)Sec. 16-191.     No gain or profit on investments.     No trustee or employee of the board shall have any interest in the gains  or profits of any investment made by the board, or as such receive any pay  or emolument for his or her services. No trustee or employee of the board shall,  directly or indirectly, for himself or herself or as an agent, in any  manner use such  gains or profits except to make current and necessary payments authorized  by the board. No trustee or employee of the board shall become an endorser  or surety or in any manner an obligor for moneys loaned or borrowed from  the board.Any person violating any of the provisions of this section is guilty of  a petty offense.    (Source: P.A. 83-1440.)
40 ILCS 5/16-192
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-192)Sec. 16-192.     Correction of errors.     Should any change or error in the records result in any member, annuitant  or beneficiary receiving from the system more or less than he or she would have been  entitled to receive had the records been correct, the board shall correct  such error, and, as far as practicable, shall adjust the payments in such a  manner that the actuarial equivalent of the benefit to which such  member, annuitant or beneficiary was entitled shall be paid; however, in  no event shall the system be required to change the records of any member,  annuitant or beneficiary if, at the time of discovery of the error,  more than 4 fiscal years have elapsed since the fiscal  year in which the error occurred.    (Source: P.A. 85-1008; 86-1488.)
40 ILCS 5/16-193
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-193)Sec. 16-193.     Retirement Systems Reciprocal Act.The "Retirement Systems Reciprocal Act", being Article 20 of this Code,  as now enacted and hereafter amended, is hereby adopted and made a part of  this Article.    (Source: Laws 1963, p. 161.)
40 ILCS 5/16-197
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-197)Sec. 16-197.     Undivided interest.All assets of the system shall be invested as one fund and no person,  group of persons or entity shall have any right other than to an undivided  interest in the whole, and all references to the reserves shall be  construed as not requiring a segregation of assets but only the maintenance  of a separate account indicating the equities in the assets as a whole.    (Source: Laws 1963, p. 161.)
40 ILCS 5/16-198
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 16 - Teachers' Retirement System Of The State Of Illinois

 (from Ch. 108 1/2, par. 16-198)Sec. 16-198.     Fraud.Any person, member, trustee, or employee of the board who knowingly  makes any false statement or falsifies or permits to be falsified any  record of this retirement system in any attempt to defraud such system as a  result of such act, or intentionally or knowingly defrauds this retirement  system in any manner, is guilty of a Class A misdemeanor.    (Source: P.A. 77-2830.)