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HOULIHAN v. CITY OF CHICAGO

No. 1-97-1514.

714 N.E.2d 569 (1999)

306 Ill. App.3d 589

239 Ill.Dec. 650

Patrick HOULIHAN, Bernard McKay, Arlene O'Connor, John Pierce and Glenn R. Smith, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs-Appellants, v. The CITY OF CHICAGO, a Municipal Corporation, Defendant-Appellee (The City of Chicago Municipal Employees', Officers' and Officials' Annuity and Benefit Fund; Policemen's Annuity and Benefit Fund; Firemen's Annuity and Benefit Fund; the Laborers' and Retirement Board Employees' Annuity and Benefit Fund; and Park Employees' and Retirement Board Employees' Annuity and Benefit Fund, Nominal Defendants-Appellees).

Appellate Court of Illinois, First District, Sixth Division.

Rehearing Denied August 5, 1999.

Attorney(s) appearing for the Case

Krislov & Associates, Ltd., Clinton A. Krislov, Robert J. Stein, III, Chicago, for Appellants.

Lawrence Rosenthal, Corporation Counsel of the City of Chicago (Benna Ruth Solomon, Sonja D. Rajkovich, Assistant Corporation Counsel, of counsel), Chicago, for Appellee-City of Chicago.

Fagel & Haber, Chicago, for Appellee-Firemen's Annuity.

Justice BUCKLEY delivered the opinion of the court:

Participants in the City of Chicago's (the City) municipal employees' pension funds brought this suit as a derivative and class action against the City of Chicago, alleging that the City failed to comply with the requirements of the Illinois Pension Code (the Pension Code) (40 ILCS 5/1-101 et seq. (West 1996)) by not paying interest on money collected for the City's municipal pension funds. The City filed a motion...

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