Illinois Pension Code

The Illinois Pension Code is a set of laws that govern the management, funding, and administration of public employee retirement systems in Illinois. It outlines eligibility, benefit calculations, contribution requirements, and the responsibilities of pension boards. The code ensures that public employees, such as teachers, police, and firefighters, receive their retirement benefits and that the pension funds are managed responsibly to maintain financial stability. Overall, it provides a legal framework to protect the rights of pensioners and ensure sustainable, fair pension plans for public servants.