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Illinois Statutes Chapter 40. Pensions § 5/12-151.1. Contributions by employees towards annual increase in retirement annuity

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 12-151.1. Contributions by employees towards annual increase in retirement annuity. Beginning July 1, 1965, there shall be deducted 1/2 of 1% of salary in the case of each employee as his contribution for the annual increase in the basic retirement annuity; provided that beginning January 1, 1976, the rate of deduction shall be 1% of salary. Such deduction shall continue during the entire time the employee is in service and in receipt of salary.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 40. Pensions § 5/12-151.1. Contributions by employees towards annual increase in retirement annuity - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-40-pensions/il-st-sect-40-5-12-151-1/

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