Illinois General Assembly - Illinois Compiled Statutes

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40 ILCS 5/16-134

(40 ILCS 5/16-134) (from Ch. 108 1/2, par. 16-134)

Sec. 16-134.

Additional retirement annuity.


(a) An annuitant receiving a retirement annuity on June 30, 1947 who has
at least 25 years of creditable service shall upon attaining age 60 or thereafter
have his or her annual retirement annuity increased to $700 for an annuitant
who is age 60 and by an additional $30 for each year of age attained above
age 60, but not exceeding a total annual retirement annuity of $1,000.

(b) In order to be entitled to such increase in retirement annuity,
the annuitant is required to make an additional contribution of $300 together
with interest at the rate of 3% per annum from June 30, 1947 on any part
of such $300 not paid on such date.

(c) The additional retirement annuity provided under this Section shall
begin to accrue on the first of the month following receipt of the required
contributions from the annuitant.

(Source: P.A. 83-1440.)