[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
| [ Engrossed ] | [ Senate Amendment 001 ] |
90_HB3516
40 ILCS 5/11-167 from Ch. 108 1/2, par. 11-167
Amends the Illinois Pension Code. Corrects an error in a
Section relating to Article 11 refunds.
LRB9011157EGfg
LRB9011157EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 11-167.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 11-167 as follows:
7 (40 ILCS 5/11-167) (from Ch. 108 1/2, par. 11-167)
8 Sec. 11-167. Refunds in lieu of annuity. In lieu of an
9 annuity, an employee who withdraws, and whose annuity would
10 amount to less than $300 a month for life may elect to
11 receive a refund of the total sum accumulated to his credit
12 from employee contributions for annuity purposes.
13 The widow of any employee, eligible for annuity upon the
14 death of her husband, whose annuity would amount to less than
15 $300 a month for life, may, in lieu of a widow's annuity,
16 elect to receive a refund of the accumulated contributions
17 for annuity purposes, based on the amounts contributed by her
18 deceased employee husband, but reduced by any amounts
19 theretofore paid to him in the form of an annuity or refund
20 out of such accumulated contributions.
21 Accumulated contributions shall mean the amounts
22 including interest credited thereon contributed by the
23 employee for age and service and widow's annuity to the date
24 of his withdrawal or death, whichever first occurs, and
25 including the accumulations from any amounts contributed for
26 him as salary deductions while receiving duty disability
27 benefits; provided that such amounts contributed by the city
28 after December 31, 1983 while the employee is receiving duty
29 disability benefits shall not be included.
30 The acceptance of such refund in of lieu of widow's
31 annuity, on the part of a widow, shall not deprive a child or
-2- LRB9011157EGfg
1 children of the right to receive a child's annuity as
2 provided for in Sections 11-153 and 11-154 of this Article,
3 and neither shall the payment of a child's annuity in the
4 case of such refund to a widow reduce the amount herein set
5 forth as refundable to such widow electing a refund in lieu
6 of widow's annuity.
7 (Source: P.A. 86-1488; revised 12-18-97.)