(40 ILCS 5/12-153) (from Ch. 108 1/2, par. 12-153)
Sec. 12-153.
Contributions for death benefit.
To defray the cost of the death benefit provided in Section 12-139,
each employee in service shall make an additional contribution during the
period prior to retirement, in the form of a deduction from salary, at a
rate estimated by the board to be sufficient to provide, in any fiscal
year, 1/2 of the amount necessary to meet the requirements for such benefit
payments. For the fiscal year July 1, 1955 to June 30, 1956, the rate of
employee contribution shall be 3/10 of 1% of salary. The employer shall
make contributions for this benefit through the established tax levy in an
amount equal to the contributions made by the employees.
On and after July 1, 1956, the rate of employee contribution, and the
amount of employer contributions shall be fixed by the board for each
fiscal year, prior to the beginning of such year, based upon the experience
of the fund in the payment of benefits hereunder. Employees receiving ordinary
or duty disability benefit and persons receiving a retirement annuity shall not be
required to make contributions towards this benefit.
An employee in a position involving part-time employment shall make contributions in
accordance with the rules of the board.
(Source: P.A. 79-478.)
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