Illinois Compiled Statutes 40 ILCS 5/14-103.06 – Member
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/14-103.06
- 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.
“Member”: Any employee included in the membership of the system; and any former employee who made contributions to the system and has not received a refund and who is not receiving a retirement annuity under this Article.