Illinois Statutes
§ 8-157 — Term annuities-How computed
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 8 - Municipal Employees', Officers', And Officials' Annuity And Benefit Fund--Cities Over 500,000 Inhabitants
In any case in which an employee's credit for an annuity for himself is insufficient--at the time the annuity is fixed or granted--to provide for him a life annuity of $100 a month, a term annuity of equal actuarial value of $100 a month shall be paid in lieu of such lesser amount of life annuity. The same provision shall apply to a widow's annuity if the life annuity is less than $100 a month.
Free access — add to your briefcase to read the full text and ask questions with AI
Illinois § 8-157 (Term annuities-How computed) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 79-846.)
Nearby Sections
15
§ 8-101
Creation of fund§ 8-102
Terms defined§ 8-103
Fund§ 8-104
The 1921 Act§ 8-107.1
Public Library Employes' Pension Act§ 8-108.3
§ 8-108.3§ 8-109
Civil Service Act§ 8-109.1
§ 8-109.1§ 8-110
Employer§ 8-111
Effective date