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Thursday, 10 April 2014 14:57

Firemen's Pension Board

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Firemen's Pension Board

In the administration of the Firemen’s Pension Fund, the Board of Trustees of the Firemen’s Pension Fund shall have the rights, powers and duties and shall be subject to all the provisions as set forth in the Illinois Compiled Statutes. (See 40 ILCS Sec. 5/4-123 to 5/129.1)
 
 
The Board of Trustees of the Firemen’s Pension Fund shall, annually, prior to the meeting of the City Council held for the purpose of levying taxes for the year, certify to the City Council the following report: 
 
  •  The assets in the custody of the Board of Trustees at such time. 
  •  The estimated receipts during the next succeeding year, from May 1st to April 30th, from the deductions from salaries or wages of firemen as provided in this Chapter and from all other sources. 
  •  The estimated amount required during such period to meet the annual actuarial requirements of the Pension Fund as provided in 40 ILCS Sec. 5/4-118. 
 
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