(40 ILCS 5/17-136) (from Ch. 108 1/2, par. 17-136)
Sec. 17-136.
Computation of aggregate contributions by
teachers. The
aggregate sum required to be contributed by any person otherwise
entitled to a pension under this Article shall be computed as follows:
1. For service as a teacher after July 6, 1931, by computing the
total of the required deductions at the rates in force
when the service
was rendered and required contributions for optionally creditable
service at rates prescribed in this Article.
2. For service as a teacher after September 1, 1963, by computing
the total of the required deductions at the rates
in force when salary
was paid and required contributions for optionally creditable service at
rates prescribed in this Article.
Effective September 1, 1974, any deficiencies resulting under the
provisions of this section shall accrue at an interest rate of 5% per
annum compounded annually until paid.
(Source: P.A. 81-1536.)
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