reglab/housing_qa huggingface dataset:
40 ILCS 5/3-125.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-125.1)Sec. 3-125.1.     Contributions by police officers.     Each police officer  shall contribute to the pension fund the following percentages of salary  for the periods stated:  Beginning July 1, 1909 and prior to July 23, 1943,  1% (except that prior to July 1, 1921 not more than one dollar per month  shall be deducted, and except that beginning July 1, 1921 and prior to July  1, 1927 not more than $2 per month shall be deducted); beginning July 23,  1943 and prior to July 20, 1949, 3%; beginning July 20, 1949 and prior to  July 17, 1959, 5%; beginning July 17, 1959 and prior to July 1, 1971, 7%;  beginning July 1, 1971 and prior to July 1, 1975, 7 1/2%; beginning  July 1, 1975 and prior to January 1, 1987, 8 1/2%; beginning  January 1, 1987 and prior to January 1, 2001, 9%; and beginning  January 1, 2001, 9.91%.   Such sums shall be paid or deducted monthly.  Contribution to the self-managed plan shall be no less than 10% of  salary."Salary" means the annual salary, including longevity, attached to the  police officer's rank, as established by the municipality's appropriation  ordinance, including any compensation for overtime which is included in  the salary so established, but excluding any "overtime pay", "holiday  pay", "bonus pay", "merit pay", or any other cash benefit not included in  the salary so established.    (Source: P.A. 91-939, eff. 2-1-01.)
40 ILCS 5/3-125.2
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-125.2)Sec. 3-125.2.     Pick up of contributions.     A municipality may pick up  the police officers' contributions required by Section 3-125.1 for all salary  earned after December 31, 1981.  If a municipality decides not to pick up  the contributions, the required contributions shall continue to be deducted  from salary.  If contributions are picked up, they shall be treated as employer  contributions in determining tax treatment under the United States Internal  Revenue Code.  However, the municipality shall continue to withhold Federal  and State income taxes based upon these contributions until the Internal  Revenue Service or the Federal courts rule that pursuant to Section 414(h)  of the United States Internal Revenue Code these contributions shall not  be included as gross income of the police officers until such time as they  are distributed or made available.  The municipality shall pay these contributions  from the same source of funds which is used to pay the salaries of police  officers.  The municipality may pick up these contributions by a reduction  in the cash salary of the police officer or by an offset against a future  salary increase or by a combination of a reduction in salary and offset  against a future salary increase.  If contributions are picked up they shall  be considered for all purposes of this Article as police officers' contributions  made prior to the time that contributions were picked up.    (Source: P.A. 83-1440.)
40 ILCS 5/3-127
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-127)Sec. 3-127.     Reserves.     The board shall establish and maintain a reserve  to insure the payment of all obligations incurred under this Article  excluding retirement annuities established under Section 3-109.3.  The  reserve to be accumulated shall be equal to the estimated total actuarial  requirements of the fund.If a pension fund has a reserve of less than the accrued liabilities of  the fund, the board of the pension fund, in making its annual report to the  city council or board of trustees of the municipality, shall designate the  amount, calculated as a level percentage of payroll, needed annually to  insure the accumulation of the reserve to the level of the fund's accrued  liabilities over a period of 40 years from July 1, 1993 for pension funds then  in operation, or from the date of establishment in the case of a fund created  thereafter, so that the necessary reserves will be attained over such a period.    (Source: P.A. 91-939, eff. 2-1-01.)
40 ILCS 5/3-128
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-128)Sec. 3-128.     Board created.     A board of 5 members shall constitute a board of trustees to administer the  pension fund and to designate the beneficiaries thereof. The board shall be  known as the "Board of Trustees of the Police Pension Fund"  of the municipality.Two members of the board shall be appointed by the mayor or president of  the board of trustees of the municipality involved. The 3rd and 4th  members of the board shall be elected from the active participants of  the pension fund by such active  participants. The 5th member shall be elected by and from the  beneficiaries.One of the members appointed  by the mayor or president of the board of trustees shall serve for  one year beginning on the 2nd Tuesday in May  after the municipality comes under this Article. The other  appointed member shall serve for 2 years beginning on the same date. Their  successors shall serve for 2  years each or until their successors are appointed and qualified.The election for board members  shall be held biennially on the 3rd Monday in April, at such place or  places in the municipality and under the Australian ballot system and such  other regulations as shall be prescribed by the appointed members of the  board.The active pension fund participants shall be entitled to vote only  for the active participant members of the board. All beneficiaries of  legal age may vote only for the member chosen from among the  beneficiaries. No person shall be entitled to cast more than one ballot at  such election. The term of elected members shall be 2 years,  beginning on the 2nd Tuesday of the first May after the election.Upon the death, resignation or inability to act of any elected board  member, his or her successor shall be elected for the  unexpired term at a special election, to be called by the board and  conducted in the same manner as the regular biennial election.Members of the board shall neither receive nor have any right to  receive any salary from the pension fund for services performed as trustees  in that office.    (Source: P.A. 83-1440.)
40 ILCS 5/3-129
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-129)Sec. 3-129.     Rooms.     Suitable rooms for board offices and meetings shall be assigned  by the mayor or city council or board of trustees of the municipality.    (Source: P.A. 83-1440.)
40 ILCS 5/3-130
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-130)Sec. 3-130.     Board meetings.     The board  shall hold annually regular quarterly meetings in  July, October, January and April, and special meetings as called  by the president.At the regular July meeting, the board shall select from its members a  president, vice-president, secretary, and assistant secretary to serve for  one year and until their respective  successors are elected and  qualified.The vice-president shall perform the duties of president  during any vacancy in that office, or during the president's absence  from the municipality, or if he or she is by  reason of illness or other causes unable to perform the  duties of the office.The assistant secretary shall act for the secretary whenever necessary  to discharge the functions of such office.    (Source: P.A. 83-1440.)
40 ILCS 5/3-131
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-131)Sec. 3-131.     Powers and duties of board.     The board shall have the powers and duties stated in Sections 3-132 through  3-140.1 in addition to the other powers and duties provided  under  this Article.    (Source: P.A. 83-1440.)
40 ILCS 5/3-132
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-132)Sec. 3-132. To control and manage the Pension Fund. In accordance with the  applicable provisions of Articles 1 and 1A and this Article, to control and  manage, exclusively, the following:(1) the pension fund,(2) until the board's investment authority is     terminated pursuant to Section 3-132.1, investment expenditures and income, including interest dividends, capital gains and other distributions on the investments, and(3) all money donated, paid, assessed, or provided by     law for the pensioning of disabled and retired police officers, their surviving spouses, minor children, and dependent parents.All money received or collected shall be credited by the treasurer of the  municipality to the account of the pension fund and  held by the treasurer of the municipality subject to the order and  control of the board.  The treasurer of the municipality shall maintain a  record of all money received, transferred, and held for the account of the  board.  (Source: P.A. 101-610, eff. 1-1-20.)
40 ILCS 5/3-132.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

Sec. 3-132.1. To transfer  investment authority to the Police Officers' Pension Investment Fund. As soon as practicable after the effective date  of this amendatory Act of the 101st General Assembly, but no later than 30 months after the effective date of this amendatory Act of the 101st General Assembly, each transferor  pension fund shall transfer, in accordance with the requirements of Section 22B-120, to the Police Officers' Pension Investment Fund  created under Article 22B for management and investment all of their securities or for which commitments have been made, and all funds, assets, or moneys representing permanent or temporary investments, or cash reserves maintained for the purpose of obtaining income thereon. Upon the transfer of such securities, funds, assets, and moneys of a transferor pension fund to the Police Officers' Pension Investment Fund, the transferor  pension fund shall not manage or control the same and shall no longer exercise any investment authority pursuant to Section 3-135 of this Code, notwithstanding any other provision of this Article to the contrary.Nothing in this Section prohibits a fund under this Article from maintaining an account, including an interest earning account, for the purposes of benefit payments and other reasonable expenses after the end of the transition period as defined in Section 22B-112, and funds under this Article are encouraged to consider a local bank or financial institution to provide such accounts and related financial services.  (Source: P.A. 101-610, eff. 1-1-20.)
40 ILCS 5/3-133
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-133)Sec. 3-133.     To order payments and issue certificates.     To order the payment of pensions and other benefits and to issue certificates  signed by its president and  secretary to the beneficiaries stating  the amount and purpose of  the payment.    (Source: P.A. 83-1440.)
40 ILCS 5/3-134
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-134)Sec. 3-134.     To submit annual list of fund payments.     To submit annually to the city council or board of trustees at the close  of the municipality's fiscal year, a list of persons entitled to payments  from the fund, stating the amount of payments, and their purpose, as  ordered by the board. It shall also include items of income accrued to the  fund during the fiscal year. The list shall be  signed by the secretary  and president of the board, and attested under oath. A resolution or order  for the payment of money shall not be valid unless approved by a majority of  the board members, and signed by the president and secretary of the board.    (Source: P.A. 83-1440.)
40 ILCS 5/3-135
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-135)Sec. 3-135.     To invest funds.     Beginning January 1, 1998, the  board shall invest funds in accordance with Sections 1-113.1 through 1-113.10  of this Code.     (Source: P.A. 90-507, eff. 8-22-97.)
40 ILCS 5/3-136
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-136)Sec. 3-136.     To subpoena witnesses.     To compel witnesses to attend and testify before it upon all matters  connected with the administration of this Article, in the manner provided  by law for the taking of testimony in the circuit courts  of this State. The president, or any board member, may administer oaths to  witnesses.    (Source: P.A. 83-1440.)
40 ILCS 5/3-137
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-137)Sec. 3-137.     To appoint clerk.To appoint a clerk and define his duties. No person drawing a pension  under this Article shall be employed by the Board.    (Source: Laws 1963, p. 161.)
40 ILCS 5/3-138
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-138)Sec. 3-138.     To pay expenses.To provide for the payment from the fund of all necessary expenses,  including clerk hire, printing and witness fees.    (Source: Laws 1963, p. 161.)
40 ILCS 5/3-139
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-139)Sec. 3-139.     To keep records.To keep a public record of all its proceedings.    (Source: Laws 1963, p. 161.)
40 ILCS 5/3-140
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-140)Sec. 3-140.     To make rules.     To make necessary rules and regulations in conformity with the  provisions of this Article, and  to publish and transmit copies from time to time to  all pensioners and contributors.    (Source: P.A. 83-1440.)
40 ILCS 5/3-140.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-140.1)Sec. 3-140.1.     To accept donations.     To accept by gift, grant, transfer,  or bequest, any money, real estate, or personal property.  Such money and  the proceeds from the sale of or the income from such real estate or personal  property shall be paid into the pension fund.    (Source: P.A. 83-1440.)
40 ILCS 5/3-141
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-141)Sec. 3-141.     Annual report by treasurer.     On the 2nd Tuesday in May annually, the treasurer and all other  officials of the municipality who had the custody of any pension funds  herein provided, shall make a sworn statement to the pension board,  and to the mayor and council or president  and board of trustees of the municipality, of all moneys received and paid out by  them on account of the pension fund during the year, and of the amount of  funds then on hand and owing to the pension fund. All surplus then  remaining with any official other than the treasurer shall be paid to the  treasurer of the municipality. Upon demand of the pension board, any  official shall furnish a statement relative to the official method of  collection or handling of the pension funds. All books and  records of that  official shall be produced at any time by him for examination and  inspection by the board.    (Source: P.A. 83-1440.)
40 ILCS 5/3-141.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

Sec. 3-141.1. Award of benefits. Prior to the board's determination of benefits, the board shall provide, in writing, the total amount of the annuity for a member and all information used in the calculation of that benefit to the Treasurer of the municipality.  If the Treasurer is of the opinion that the calculated annuity is incorrect, the Treasurer shall immediately notify the board. The board shall review the Treasurer's findings, and if the Board concurs that an error exists it shall re-determine the annuity so that it is calculated in accordance with the Illinois Pension Code.  (Source: P.A. 95-950, eff. 8-29-08.)
40 ILCS 5/3-142
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-142)Sec. 3-142. Payment of benefits - funds insufficient. Any police officer and any eligible surviving spouse, child or children,  or dependent parent   of the officer to whom the  board has ordered benefits to be paid, shall receive a yearly benefit  payable in 12 equal monthly installments, which shall be the aggregate  amount to which they are entitled.If at any time there is not sufficient money  in the fund to pay the   benefits under this Article  the city council or board of   trustees of the municipality shall make every legal effort to  replenish the fund so that all beneficiaries may receive the amounts to  which they are entitled.  (Source: P.A. 96-1517, eff. 2-4-11.)
40 ILCS 5/3-143
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-143)Sec. 3-143. Report by pension board.(a) The pension board shall report annually to the city  council or board of trustees of the municipality on the condition of the  pension fund at the end of its most recently completed fiscal year.  The  report shall be made prior to the council or board meeting held for the levying  of taxes for the year for which the report is made.The pension board shall certify and provide the following information to the city council or board of trustees of the municipality:(1) the total assets of the fund in its custody at     the end of the fiscal year and the current market value of those assets;(2) the estimated receipts during the next succeeding     fiscal year from deductions from the salaries of police officers, and from all other sources;(3) the estimated amount required during the next     succeeding fiscal year to (a) pay all pensions and other obligations provided in this Article, and (b) meet the annual requirements of the fund as provided in Sections 3-125 and 3-127;(4) the total net income received from investment of     assets along with the assumed investment return and actual investment return received by the fund during its most recently completed fiscal year compared to the total net  income, assumed investment return, and actual investment return received during the preceding fiscal year;(5) the total number of active employees who are     financially contributing to the fund;(6) the total amount that was disbursed in benefits     during the fiscal year, including the number of and total amount disbursed to (i) annuitants in receipt of a regular retirement pension, (ii) recipients being paid a disability pension, and (iii) survivors and children in receipt of benefits;(7) the funded ratio of the fund;(8) the unfunded liability carried by the fund, along     with an actuarial explanation of the unfunded liability; and(9) the investment policy of the pension board under     the statutory investment restrictions imposed on the fund.Before the pension board makes its report, the municipality shall have the assets  of the fund and their current market value verified by an independent certified  public accountant of its choice.(b) The municipality is authorized to publish the report submitted under this Section.  This publication may be made, without limitation, by publication in a local newspaper of general circulation in the municipality or by publication on the municipality's Internet website.  If the municipality publishes the report, then that publication must include all of the information submitted by the pension board under subsection (a). (Source: P.A. 100-863, eff. 8-14-18.)
40 ILCS 5/3-144
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-144)Sec. 3-144.         Application to certain police officer's  annuity and benefit funds. As of July 20, 1949, the pension fund established  under this Article superseded and replaced any annuity and benefit fund  in operation under "An Act to  provide for the creation, setting apart, maintenance and administration of  a policemen's annuity and benefit fund in cities having a population of not  less than one hundred thousand and not more than two hundred thousand  inhabitants", approved June 12, 1931, as amended, which Act was repealed  in 1949.  Any such superseded fund was merged into and became a part of the  pension fund established under this Article.All annuities, pensions and other benefits granted under any such superseded  fund or any pre-existing police pension fund, and claims pending  under such funds which were approved by the board of the superseding funds  shall be paid by the board of trustees of the funds established under this  Article according to the law under which the annuities, pensions or other  benefits were granted.    (Source: P.A. 83-1440.)
40 ILCS 5/3-144.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 3 - Police Pension Fund - Municipalities 500,000 And Under

 (from Ch. 108 1/2, par. 3-144.1)Sec. 3-144.1.         All pensions, refunds or disability pension benefits granted  under this Article, and every portion thereof, shall be exempt from attachment  or garnishment process and shall not be seized, taken, subjected to, detained  or levied upon by virtue of any judgment, or any process or proceedings  whatsoever issued out of or by any court for the payment and satisfaction  in whole or in part of any debt, damage, claim, demand or judgment against  a pensioner, refund applicant or other beneficiary hereunder.    (Source: P.A. 84-546.)