Illinois Statutes
§ 16-122 — Actuarial equivalent
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 16 - Teachers' Retirement System Of The State Of Illinois
"Actuarial equivalent": A benefit or sum of equal value to another benefit or sum when computed on the basis of mortality tables and interest rates adopted by the board.
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Legislative History
(Source: P.A. 83-1440.)
Nearby Sections
15
§ 16-101
Creation of system§ 16-102
Application of Article§ 16-103
Terms defined§ 16-104
Retirement system or system§ 16-105
Board§ 16-106
Teacher§ 16-106.1
Full-time teacher§ 16-106.2
Part-time teacher§ 16-106.3
Substitute teacher§ 16-106.4
(Repealed)§ 16-106.41
Tier 1 member§ 16-106.6
Teacher certification§ 16-107
Member§ 16-108
Prior service§ 16-109
Membership service