ILCS » Chapter 40 · Act 5
Illinois Compiled Statutes

40 ILCS 5/4-120 (2026)

Reserves

✓ current as of May 2026
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(40 ILCS 5/4-120) (from Ch. 108 1/2, par. 4-120)
    Sec. 4-120. Reserves. The board shall establish and maintain a reserve to insure the payment of all obligations incurred under this Article. The reserve to be accumulated shall be equal to the estimated total actuarial requirements of the Fund.
(Source: P.A. 83-1440.)

    
Notes of Decisions
Cited in 1 case, 2017–2017 · leading case: Bd. of Trs. of the City of Harvey Firefighters' Pension Fund v. City of Harvey, 2017 IL App (1st) 153074 (Ill. App. Ct. 2017).
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Bd. of Trs. of the City of Harvey Firefighters' Pension Fund v. City of Harvey, 2017 IL App (1st) 153074 (Ill. App. Ct. 2017). · cites it 2× “40 ILCS 5/4-120 to 4-129 (West 2014). The Pension Board filed suit, alleging that Harvey has underfunded the Pension Fund and breached a 1996 settlement agreement in which Harvey agreed to make certain contributions to the Pension Fund.”
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