Illinois Compiled Statutes
40 ILCS 5/22-401 (2026)
Pension fund - body politic and corporate
✓ current as of May 2026
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(40 ILCS 5/22-401)
(from Ch. 108 1/2, par. 22-401)
Sec. 22-401.
Pension fund - body politic and corporate.
Any annuity and benefit fund, annuity and retirement fund or retirement
system, heretofore or hereafter created by the legislature of the State of
Illinois for the benefit of employees of the State or of any county, city,
town, municipal corporation or body politic and corporate, located in the
State of Illinois and functioning pursuant to legislative enactment, to
which the State or any such county, city, town, municipal corporation or
body politic and corporate is required to contribute by way of tax levies,
appropriations from the corporate fund, or otherwise, and by whatever name
such annuity and benefit fund, annuity and retirement fund or retirement
system may be called, is hereby declared to be a pension fund and to be a
body politic and corporate under the title specified in the law creating
such fund, limited to the performance of the duties set out in the law
creating such fund. The trustees of each fund are hereby declared to be the
officials of such body politic and corporate, vested with the powers and
duties set out in said law.
(Source: Laws 1963, p. 161.)
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 2020–2021 · leading case: Chappell v. Bd. of Trs. of Illinois Mun. Ret. Fund, 2020 IL App (1st) 192255 (Ill. App. Ct. 2020).
Chappell v. Bd. of Trs. of Illinois Mun. Ret. Fund, 2020 IL App (1st) 192255 (Ill. App. Ct. 2020). “¶ 49 Based on the facts in this record, we hold that equitable estoppel is an unavailable remedy. The record demonstrates that plaintiff sought out benefits to which he was not entitled and did so knowing full-well that he did not qualify to participate in the fund as the…”
Chappell v. Bd. of Trs. of Illinois Mun. Ret. Fund, 2020 IL App (1st) 192255 (Ill. App. Ct. 2021). “¶ 49 Based on the facts in this record, we hold that equitable estoppel is an unavailable remedy.”
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