reglab/housing_qa huggingface dataset:
40 ILCS 5/11-190
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-190)Sec. 11-190.     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 any agreements and 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 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  investment 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 5/11-190.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-190.1)Sec. 11-190.1.     Loan of securities.     The Board may lend securities  owned by the Fund to a  borrower upon such written terms and conditions as may be mutually agreed.  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 5/11-191
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-191)Sec. 11-191.     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 5/11-192
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-192)Sec. 11-192.     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 or affecting the fund, including,  in addition to all other matters, all claims for annuities, pensions,  benefits or refunds.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-193
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-193)Sec. 11-193.     To determine service credits.To require each employee to file a statement concerning service rendered  the employer and the retirement board, 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 5/11-194
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-194)Sec. 11-194.     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 5/11-195
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-195)Sec. 11-195.     To submit an annual report.To submit a report in July 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. The city council shall have the power to require the  board to submit such report.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-196
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-196)Sec. 11-196.     To subpoena witnesses.To compel witnesses to testify before it upon any matter concerning the  fund and allow witness fees not in excess of $6 per day. The president or  other members of the board may administer oaths to witnesses.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-197
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-197)Sec. 11-197.     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 5/11-197.7
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

Sec. 11-197.7. Payment of annuity other than direct. The board, at the written direction and request of any annuitant, may, solely as an accommodation to such annuitant, pay the annuity due him or her to a bank, savings and loan association, or any other financial institution insured by an agency of the federal government, for deposit to his or her account, or to a bank or trust company for deposit in a trust established by him or her for his benefit with such bank, savings and loan association, or trust company, and such annuitant may withdraw such direction at any time. An annuitant who directs the board to pay the annuity due him or her to a financial institution shall hold the board and the fund harmless from any claim or loss related to any error as to whether the financial institution is or continues to be federally insured.  (Source: P.A. 100-23, eff. 7-6-17; 100-1166, eff. 1-4-19.)
40 ILCS 5/11-198
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-198)Sec. 11-198.     To make rules.To make rules and regulations necessary for the administration of the  fund.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-199
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-199)Sec. 11-199.     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 all  annuity payments which become due in the following 90 days. Such sum or any  part thereof shall be kept on deposit only in banks or savings and loan  associations authorized to do business under the  laws of this State. The amount  which may be deposited in any bank 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 5/11-200
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-200)Sec. 11-200.     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 11-201 to 11-210,  inclusive, shall be maintained. At the end of each year and at any other  time when necessary the amounts in such reserves shall be improved by their  proper interest accretions.    (Source: P.A. 85-964.)
40 ILCS 5/11-201
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-201)Sec. 11-201.     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 5/11-202
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-202)Sec. 11-202.     City contribution reserve.     Amounts contributed by the  city for age and service annuity, widow's annuity and supplemental  annuity (except those contributed in lieu of deductions from the salary  of an employee who receives duty disability benefit), and all 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  and each widow for which the city shall contribute for supplemental  annuity to which city contributions shall be credited.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 applies for annuity, 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 5/11-203
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-203)Sec. 11-203.     Employees' 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, and transfers 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 and contributions shall be credited.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, except  refunds under Section 11-204.    (Source: P.A. 81-1536.)
40 ILCS 5/11-204
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-204)Sec. 11-204.     Annuity payment reserve.     Amounts transferred from the city contribution reserve and the  employees' 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 Sections 11-148,  11-166, 11-172 and 11-149(2) 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 salary deduction  reserve, respectively, for age and service annuity. Such amount shall be  divided in said reserves in the same proportion as that in which the  previous transfer from such reserves to this reserve was made.If the wife of the employee, when he re-enters service, is the same  as that 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 employees' contribution reserve,  respectively. Such credit shall be in the same proportion as that in  which the previous transfer was made.If at the end of any year the credit balance of the annuity payment  reserve exceeds the liabilities chargeable thereto by more than 15% of  such liabilities, the excess shall be transferred to the investment and  interest reserve, expense reserve, ordinary disabling reserve, prior  service annuity reserve, and city contribution reserve, in the order  named, to remove any deficiency existing in any such reserves.    (Source: P.A. 81-1536.)
40 ILCS 5/11-205
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-205)Sec. 11-205.     Prior service annuity reserve.Amounts contributed by the city for prior service annuity, widow's prior  service annuity and minimum annuities, shall be credited to this reserve.Prior service and widow's prior service annuities payable under this  Article and that part of any minimum annuity which is in excess of the age  and service and prior service annuity shall be charged to this reserve.If the balance of the investment and interest reserve is not sufficient  to permit a transfer from that reserve to the annuity payment reserve to  make the credit balance of the annuity payment reserve equal to the  liabilities chargeable thereto (including the present values of all  annuities entered upon or fixed and of all annuities not entered upon),  amounts necessary for such purpose shall be transferred from this reserve  to the investment and interest reserve.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-206
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-206)Sec. 11-206.     Child's annuity reserve.Amounts contributed by the city for child's annuity shall be credited to  this reserve and such annuities shall be charged to it.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-207
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-207)Sec. 11-207.     Duty disability reserve.Amounts contributed by the city for duty disability benefits and child's  disability benefits, and amounts contributed by the city for compensation  annuity shall be credited to this reserve. Such benefits and annuities  shall be charged to it.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-208
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-208)Sec. 11-208.     Ordinary disability reserve.Amounts contributed by the city for ordinary disability benefit shall be  credited to this reserve and such benefits shall be charged to it.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-209
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-209)Sec. 11-209.     Gift reserve.Money or property received by the board for any purpose under other  laws, or as gifts, grants, or bequests, or in any manner other than  provided in any section of this Article shall be credited to this reserve  and used for such purposes of the fund as are approved by the board. The  balance in this reserve shall be improved by interest at 4% per annum.    (Source: Laws 1963, p. 161.)
40 ILCS 5/11-210
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-210)Sec. 11-210.     Investment and interest reserve.(1) Gains from investments and interest earnings shall be credited to  this reserve. Losses from investments shall be charged to it. From this  reserve shall be transferred amounts due in interest upon balances existing  in other reserves of this fund.(2) Amounts necessary according to the American Experience Table of  Mortality and interest at the rate of 4% per annum or the Combined Annuity  Mortality Table and interest at the rate of 3% per annum, as to those  assets or liabilities to which either table may be applicable in accordance  with the provisions of this Article, to make the annuity payment reserve  equal to its liabilities (including the present values of all annuities  entered upon, or fixed and not entered upon, chargeable to such reserve)  shall be transferred to the annuity payment reserve at least once each  year.(3) That portion of the annual investment earnings on the fund's  invested assets exclusive of gains or losses on sales or exchanges of  assets during the year on the fund's invested assets, as specified in  Section 11-134.3 of this Article, shall be transferred from the investment  and interest reserve to the Supplementary Payment Reserve set forth in said  Section 11-134.3.Any balance in the investment and interest reserve shall be either  charged or credited to the Prior Service Annuity Reserve depending on  whether a deficiency or surplus exists in said investment and interest  reserve.    (Source: P.A. 76-1510.)
40 ILCS 5/11-211
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 11 - Laborers' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants

 (from Ch. 108 1/2, par. 11-211)Sec. 11-211.     Deficiencies in reserves.     If the balance in the expense reserve, the prior service annuity  reserve, the child's annuity reserve, the duty disability reserve or the  ordinary disability reserve, or either one of these is not sufficient to  provide for expenses, annuities, or benefits chargeable thereto, the  deficiency shall be removed by a transfer from the following reserves in  the order stated: City contribution reserve; prior service annuity  reserve; employees' contribution reserve; annuity payment reserve. When  an excess exists in the said reserves to which a transfer was made, the  excess shall be transferred from any of such reserves  to the reserves  from which a transfer had been made until the full sum previously  transferred is restored. Interest of 4% per annum upon such transfers  and retransfers shall be credited to the investment and interest  reserve.    (Source: P.A. 81-1536.)