Illinois Compiled Statutes 40 ILCS 5/16-142.2 – Survivors’ benefits – maximum amounts
Current as of: 2024 | Check for updates
|
Other versions
(a) When the death of a member or annuitant occurs after August 21, 1981, the following maximum limitations shall apply in the determination of the survivor’s benefits payable under Section 16-141 and Section 16-142:
(1) The maximum combined survivor’s benefits for a surviving spouse and eligible children or for more than one eligible child where no benefits are payable to a surviving spouse shall be the lesser of: (A) $600 per month, or (B) 80% of average salary.
(2) The maximum survivor’s benefit for a surviving spouse of a deceased annuitant or of a deceased member who terminated service for a cause other than retirement with at least 20 years of creditable service shall be the lesser of: (A) 80% of the retirement annuity earned by the member and payable upon the later of attainment of age 60 or the date of retirement, or (B) $400 per month. The maximum survivor’s benefit for a surviving spouse of a member who dies in service shall be $400 per month.
(3) The maximum survivor’s benefit payable for one eligible child shall be $400 per month.
(4) The maximum combined survivor’s benefit for a parent or parents shall be the lesser of (A) $400 per month, or (B) 50% of average salary.
(b) If the minimum survivor’s benefit provided under Section 16-142.1 exceeds the maximum survivor’s benefit specified under this Section, such minimum survivor’s benefit shall be payable.
(1) The maximum combined survivor’s benefits for a surviving spouse and eligible children or for more than one eligible child where no benefits are payable to a surviving spouse shall be the lesser of: (A) $600 per month, or (B) 80% of average salary.
Terms Used In Illinois Compiled Statutes 40 ILCS 5/16-142.2
- 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.
- Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
- Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32
(2) The maximum survivor’s benefit for a surviving spouse of a deceased annuitant or of a deceased member who terminated service for a cause other than retirement with at least 20 years of creditable service shall be the lesser of: (A) 80% of the retirement annuity earned by the member and payable upon the later of attainment of age 60 or the date of retirement, or (B) $400 per month. The maximum survivor’s benefit for a surviving spouse of a member who dies in service shall be $400 per month.
(3) The maximum survivor’s benefit payable for one eligible child shall be $400 per month.
(4) The maximum combined survivor’s benefit for a parent or parents shall be the lesser of (A) $400 per month, or (B) 50% of average salary.
(b) If the minimum survivor’s benefit provided under Section 16-142.1 exceeds the maximum survivor’s benefit specified under this Section, such minimum survivor’s benefit shall be payable.