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(40 ILCS 5/14-109) (from Ch. 108 1/2, par. 14-109)
Sec. 14-109.
Minimum retirement annuity.
(a) Beginning January 1, 1987, any person who is receiving a monthly
retirement annuity under this Article which, after inclusion of (1) all
one-time and automatic annual increases to which the person is entitled,
(2) any supplemental annuity payable under Section 14-115, and (3) any
amount deducted under Section 14-113 to provide a reversionary annuity, is
less than the minimum monthly retirement benefit amount specified in
subsection (b) of this Section, shall be entitled to a monthly supplemental
payment equal to the difference.
(b) For purposes of the calculation in subsection (a):
(1) Until January 1, 1997, the minimum monthly |
| retirement benefit amount is the sum of $15 for each year of service as a noncovered employee, plus $7.50 for each year of service as a covered employee, up to a maximum of 30 years of service.
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(2) Beginning January 1, 1997, the minimum monthly
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| retirement benefit amount is the sum of $25 for each year of service as a noncovered employee, plus $15 for each year of service as a covered employee, up to a maximum of 30 years of service.
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(c) This Section applies to all persons receiving a
retirement annuity under this Article, without regard to whether or not
employment terminated prior to the effective date of this amendatory Act of
1996.
(Source: P.A. 89-616, eff. 8-9-96.)
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