Ryan v. City of Chicago

delivered, the opinion of the court:

The issues emanating from this appeal are whether: (1) the city of Chicago can retain for its own use all interest and income derived from certain pension fund taxes during the first 30 days after their receipt by the city; and (2) plaintiffs are entitled to restitution of all interest earned on pension tax funds withheld by the city of Chicago between January 1, 1979, and October 10, 1984.

Pursuant to statute, defendant city of Chicago (city) maintains four pension funds (pension funds): Policemen’s Annuity and Benefit Fund; Firemen’s Annuity and Benefit…