Illinois Compiled Statutes 40 ILCS 5/11-142 – Widow’s annuity – Present employees and future entrants – Withdrawal …
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Widow’s annuity – Present employees and future entrants – Withdrawal before age 55. The widow of an employee who withdraws after 10 or more years of service before age 55 and later attains such age while not in service, shall be entitled after his death to an annuity fixed on the date the employee becomes age 55.
The widow shall be entitled to an amount provided on a reversionary annuity basis from the following sums accumulated to his credit on the date when the annuity is fixed:
(1) If service is 20 or more years, the total credits for widow’s annuity and, in addition, if he was a present employee, the total credits for widow’s prior service annuity; or
(2) If service is 10 or more but less than 20 years:
(a) For the widow of a future entrant the total credits for widow’s annuity from employee contributions and 1/10 of the total credits for widow’s annuity from city contributions for each year of service after the first 10 years;
(b) For the widow of a present employee the total credits for widow’s annuity from employee contributions and 1/10 of the total credits for widow’s annuity and widow’s prior service annuity from city contributions.
The widow shall be entitled to an amount provided on a reversionary annuity basis from the following sums accumulated to his credit on the date when the annuity is fixed:
Terms Used In Illinois Compiled Statutes 40 ILCS 5/11-142
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(1) If service is 20 or more years, the total credits for widow’s annuity and, in addition, if he was a present employee, the total credits for widow’s prior service annuity; or
(2) If service is 10 or more but less than 20 years:
(a) For the widow of a future entrant the total credits for widow’s annuity from employee contributions and 1/10 of the total credits for widow’s annuity from city contributions for each year of service after the first 10 years;
(b) For the widow of a present employee the total credits for widow’s annuity from employee contributions and 1/10 of the total credits for widow’s annuity and widow’s prior service annuity from city contributions.