Illinois Statutes Chapter 40. Pensions § 5/6-161. Refund--Transfer of city contributions

§ 6-161. Refund--Transfer of city contributions. Whenever any amounts are refunded, the accumulated city contributions shall be transferred to the prior service annuity reserve until such time as the assets of said reserve become equal to the liabilities thereof. Thereafter such amounts and the interest thereon shall be used to reduce the amount which the city would otherwise be required to contribute during a succeeding year to the fund.