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90_HB1152
40 ILCS 5/6-202 from Ch. 108 1/2, par. 6-202
Amends the Illinois Pension Code to make a technical
change.
LRB9003742DPcc
LRB9003742DPcc
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 6-202.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 6-202 as follows:
7 (40 ILCS 5/6-202) (from Ch. 108 1/2, par. 6-202)
8 Sec. 6-202. Gift reserve. All money or property received
9 by the board for any purposes of the fund under a any law
10 other than this law, or as gifts, grants, or bequests or in
11 any manner other than as provided in this Article, shall be
12 placed in this reserve and used for the purposes of the fund
13 as the board decides; provided that, whenever any gift of
14 moneys or other property is made to this reserve to be used
15 for the benefit of any class of beneficiaries of this fund,
16 such moneys or other property shall be used only for such
17 specified purpose. The balance in this reserve shall be
18 annually improved by interest at the rate realized by the
19 Board on its investments in the previous year.
20 (Source: P.A. 86-273.)