ILCS » Chapter 40 · Act 5
Illinois Compiled Statutes

40 ILCS 5/7-102 (2026)

Purpose

✓ current as of May 2026
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(40 ILCS 5/7-102) (from Ch. 108 1/2, par. 7-102)
    Sec. 7-102. Purpose. The purpose of this fund is to provide a sound and efficient system for the payment of annuities and other benefits, in addition to the annuities and benefits available, as herein provided, under the Federal Social Security Act, to certain officers and employees, and to their beneficiaries, of municipalities, as herein defined.
    It is the mission of this Fund to efficiently and impartially develop, implement and administer programs that provide income protection to members and their beneficiaries on behalf of participating employers in a prudent manner.
(Source: P.A. 87-740.)

    
Notes of Decisions
Cited in 2 cases, 2007–2015 · leading case: Ultsch v. Illinois Mun. Ret. Fund, 874 N.E.2d 1 (Ill. 2007).
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Ultsch v. Illinois Mun. Ret. Fund, 874 N.E.2d 1 (Ill. 2007). · cites it 2× “The legislature created IMRF in section 7-101 of the Illinois Pension Code (40 ILCS 5/7-101 (West 2004)) for the stated purpose of "provid[ing] a sound and efficient system for the payment of annuities and other benefits, * * * to certain officers and employees, and to their…”
Vill. of Oak Brook v. Sheahan, 2015 IL App (2d) 140810 (Ill. App. Ct. 2015). “” 40 ILCS 5/7-102 (West 2012). Similarly, section 7-139(a)(5.”
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