Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

40 ILCS 5/7-102

(40 ILCS 5/7-102) (from Ch. 108 1/2, par. 7-102)

Sec. 7-102.

Purpose.

The purpose of this fund is to provide a sound and
efficient system for
the payment of annuities and other benefits, in addition to the annuities
and benefits available, as herein provided, under the Federal Social
Security Act, to certain officers and employees, and to their
beneficiaries, of municipalities, as herein defined.

It is the mission of this Fund to efficiently and impartially develop,
implement and administer programs that provide income protection to members
and their beneficiaries on behalf of participating employers in a prudent
manner.

(Source: P.A. 87-740.)