Sec. 16-101. Creation of system.
53 words·~1 min read·
/il/chapter-40/act-5/16-101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 16-101. Creation of system. Effective July 1, 1939, there is created the "Teachers' Retirement System of the State of Illinois" for the purpose of providing retirement annuities and other benefits for teachers, annuitants and beneficiaries. All of its business shall be transacted, its funds invested, and its assets held in such name.