Illinois Compiled Statutes 40 ILCS 5/11-145 – Employee’s widow’s annuity – No contributions or service credits …
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/11-145
- 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.
Employee’s widow’s annuity – No contributions or service credits after fixation. No contributions by the employee or the city for an annuity for the widow of an employee shall be made after the date when her annuity has been fixed. No service of an employee rendered after such date shall be considered for widow’s annuity except as herein provided.