(70 ILCS 3615/2.17) (from Ch. 111 2/3, par. 702.17)
Sec. 2.17.
Employee Pensions.
The Authority may establish and maintain systems of pensions and
retirement benefits for such officers and employees of the Authority as may
be designated or described by ordinance of the Authority; may fix the
classifications therein; may take such steps as may be necessary to provide
that persons eligible for admission to such pension systems as officers and
employees of the Authority or of any transportation agency whose operations
are financed in whole or in part by the Authority, shall retain eligibility
for admission to or continued coverage and participation under Title II of
the federal Social Security Act, as amended, and the related provisions of
the Federal Insurance Contributions Act, as amended, or the federal
Railroad Retirement Act, as amended, and the related provisions of the
Railroad Retirement Tax Act, as amended, as the case may be; and may
provide in connection with such pension systems, a system of benefits
payable to the beneficiaries and dependents of any participant in such
pension systems after the death of such participant (whether accidental or
otherwise, whether occurring in the actual performance of duty or
otherwise, or both) subject to such exceptions, conditions, restrictions
and classifications as may be provided by ordinance of the Authority. Such
pension systems shall be financed or funded by such means and in such
manner as may be determined by the Authority to be economically feasible.
(Source: P.A. 78-3rd S.S.-5.)
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