(40 ILCS 5/16-138) (from Ch. 108 1/2, par. 16-138)
Sec. 16-138.
Refund of contributions upon death of member or annuitant.
Upon the death of a member or annuitant, the following amount shall be
payable (i) to a beneficiary nominated by written designation of the member
or annuitant filed with the system, or (ii) if no beneficiary is nominated,
to the surviving spouse, or (iii) if no beneficiary is nominated and there is
no surviving spouse, to the decedent's estate, upon receipt of proper proof
of death:
(1) Upon the death of a member, an amount consisting of the sum of the
following: (A) the member's accumulated contributions; (B) the sum of the
contributions made by the member toward the cost of the automatic increase
in annuity under Section 16-152, without interest thereon; and (C)
contributions made by the member toward prior service, without interest
thereon.
(2) Upon the death of an annuitant, unless a reversionary annuity is
payable under Section 16-136, an amount determined by subtracting the total
amount of monthly annuity payments received as a result of the deceased
annuitant's retirement from the sum of: (A) the accumulated contributions
at retirement; (B) the sum of the contributions made by the deceased toward
the cost of the automatic increase in annuity under Section 16-152, without
interest thereon; and (C) any contributions made by the
deceased for prior service or other purposes, exclusive of contributions
toward the cost of the automatic increase in annuity, without interest
thereon.
(Source: P.A. 91-887, eff. 7-6-00; 92-16, eff. 6-28-01.)
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