§ 40 ILCS 5/2-101 Creation of system
§ 40 ILCS 5/2-102 Terms defined
§ 40 ILCS 5/2-103 System
§ 40 ILCS 5/2-104 Board
§ 40 ILCS 5/2-105 Member
§ 40 ILCS 5/2-105.3 Tier 1 participant; Tier 2 participant
§ 40 ILCS 5/2-105.4 Tier 1 retiree
§ 40 ILCS 5/2-106 Eligible member
§ 40 ILCS 5/2-107 Participant
§ 40 ILCS 5/2-108 Salary
§ 40 ILCS 5/2-108.1 Highest salary for annuity purposes
§ 40 ILCS 5/2-109 Military service
§ 40 ILCS 5/2-110 Service
§ 40 ILCS 5/2-110.1 Service credit for elected county, township or municipal official. An …
§ 40 ILCS 5/2-110.2 Age enhancement
§ 40 ILCS 5/2-111 Annuity
§ 40 ILCS 5/2-112 Annuitant
§ 40 ILCS 5/2-113 Refund beneficiary
§ 40 ILCS 5/2-114 Actuarial tables
§ 40 ILCS 5/2-115 Prescribed rate of interest
§ 40 ILCS 5/2-116 Fiscal year
§ 40 ILCS 5/2-117 Participants – Election not to participate
§ 40 ILCS 5/2-117.1 Participants – Election to continue participation
§ 40 ILCS 5/2-117.2 Transfer of creditable service to Article 8, 9 or 13 fund
§ 40 ILCS 5/2-117.3 Payments and Rollovers
§ 40 ILCS 5/2-118 Participants subject to survivor’s annuity. Every male participant in …
§ 40 ILCS 5/2-119 Retirement annuity – conditions for eligibility
§ 40 ILCS 5/2-119.01 Retirement annuities – Amount
§ 40 ILCS 5/2-119.1 Automatic increase in retirement annuity
§ 40 ILCS 5/2-120 Reversionary annuity
§ 40 ILCS 5/2-121 Survivor’s annuity – conditions for payment
§ 40 ILCS 5/2-121.1 Survivor’s annuity; amount
§ 40 ILCS 5/2-121.2 Reduction of disability and survivor’s benefits for corresponding …
§ 40 ILCS 5/2-121.3 Required distributions
§ 40 ILCS 5/2-122 Re-entry after retirement
§ 40 ILCS 5/2-123 Refunds
§ 40 ILCS 5/2-124 Contributions by State
§ 40 ILCS 5/2-125 Obligations of State; funding guarantee
§ 40 ILCS 5/2-126 Contributions by participants
§ 40 ILCS 5/2-126.1 Pickup of contributions
§ 40 ILCS 5/2-126.5 Use of contributions for health care subsidies
§ 40 ILCS 5/2-127 Board created
§ 40 ILCS 5/2-128 Board vacancy
§ 40 ILCS 5/2-129 Board voting
§ 40 ILCS 5/2-130 Board powers and duties
§ 40 ILCS 5/2-131 To hold meetings
§ 40 ILCS 5/2-132 To authorize payments
§ 40 ILCS 5/2-133 To certify interest rate and adopt actuarial tables
§ 40 ILCS 5/2-134 To certify required State contributions and submit vouchers
§ 40 ILCS 5/2-136 To provide for examination of disability annuitants
§ 40 ILCS 5/2-137 To establish an office
§ 40 ILCS 5/2-138 To hire employees
§ 40 ILCS 5/2-139 To keep records and accounts
§ 40 ILCS 5/2-139.1 To request information
§ 40 ILCS 5/2-140 To have an audit and submit statements
§ 40 ILCS 5/2-141 To accept gifts
§ 40 ILCS 5/2-142 To submit individual statement
§ 40 ILCS 5/2-143 To establish rules
§ 40 ILCS 5/2-144 Secretary
§ 40 ILCS 5/2-145 Treasurer
§ 40 ILCS 5/2-146 Actuary
§ 40 ILCS 5/2-147 State Comptroller
§ 40 ILCS 5/2-148 Speaker of House – President of Senate
§ 40 ILCS 5/2-149 Authorization
§ 40 ILCS 5/2-150 Retirement Systems Reciprocal Act
§ 40 ILCS 5/2-151 No compensation
§ 40 ILCS 5/2-152 No monetary gain on investments
§ 40 ILCS 5/2-153 Undivided interest
§ 40 ILCS 5/2-154 Assignment
§ 40 ILCS 5/2-155 Fraud
§ 40 ILCS 5/2-155.1 Mistake in benefit
§ 40 ILCS 5/2-156 Felony conviction
§ 40 ILCS 5/2-157 Administrative review
§ 40 ILCS 5/2-158 General provisions and savings clause
§ 40 ILCS 5/2-160 Savings clause
§ 40 ILCS 5/2-161 Application of amendments
§ 40 ILCS 5/2-162 Application and expiration of new benefit increases
§ 40 ILCS 5/2-163 Termination of plan

Terms Used In Illinois Compiled Statutes > 40 ILCS 5 > Article 2 - General Assembly Retirement System

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Dependent: A person dependent for support upon another.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grantor: The person who establishes a trust and places property into it.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: A promise to tell the truth.
  • oath: shall be deemed to include an affirmation, and the word "sworn" shall be construed to include the word "affirmed. See Illinois Compiled Statutes 5 ILCS 70/1.12
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
  • Recess: A temporary interruption of the legislative business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Statute: A law passed by a legislature.
  • Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32
  • Trustee: A person or institution holding and administering property in trust.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14