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40 ILCS 5/7-156
(40 ILCS 5/7-156) (from Ch. 108 1/2, par. 7-156)
Sec. 7-156. Surviving spouse annuities - amount.
(a) The amount of surviving spouse annuity shall be:
1. Upon the death of an employee annuitant or such person entitled, upon
application, to a retirement annuity at date of death, (i) an amount equal
to 50% for a Tier 1 regular employee or 66 2/3% for a Tier 2 regular employee of the retirement annuity which was or would
have been payable exclusive of the amount so payable which was provided from
additional credits, and disregarding any election made under paragraph (b) of
Section 7-142, plus (ii) an annuity which could be provided at the then
attained age of the surviving spouse and under actuarial tables then in effect,
from the excess of the additional credits, (excluding any such credits used to
create a reversionary annuity) used to provide the annuity granted pursuant to
paragraph (a) (2) of Section 7-142 of this article over the total annuity
payments made pursuant thereto.
2. Upon the death of a participating employee on or after attainment of
age 55, an amount equal to 50% for a Tier 1 regular employee or 66 2/3% for a Tier 2 regular employee of the retirement annuity
which he could have had as of the date of death had he then retired and applied
for annuity, exclusive of the portion thereof which could have been provided
from additional credits, and disregarding paragraph (b) of Section 7-142,
plus an amount equal to the annuity which could be provided from the total
of his accumulated additional credits at date of death, on the basis of the
attained age of the surviving spouse on such date.
3. Upon the death of a participating employee before age 55, an amount equal
to 50% for a Tier 1 regular employee or 66 2/3% for a Tier 2 regular employee of the retirement annuity which he could have had
as of his attained age on the date of death, had he then retired and applied
for annuity, and the provisions of this Article that no such annuity shall
begin until the employee has attained at least age 55 were not applicable,
exclusive of the portion thereof which could have been provided from
additional credits and disregarding paragraph (b) of Section 7-142, plus an
amount equal to the annuity which could be provided from the total of his
accumulated additional credits at date of death, on the basis of the
attained age of the surviving spouse on such date.
In the case of the surviving spouse of a person who dies before June 1, 2006 (the
effective date of Public Act 94-712), if
the surviving spouse is more than 5 years younger than the deceased,
that portion of the annuity which is not based on additional credits shall
be reduced in the ratio of the value of a life annuity of $1 per year at an
age of 5 years less than the attained age of the deceased, at the earlier
of the date of the death or the date his retirement annuity begins, to the
value of a life annuity of $1 per year at the attained age of the surviving
spouse on such date, according to actuarial tables approved by the Board.
This reduction does not apply to the surviving spouse of a person who dies
on or after June 1, 2006 (the effective date of Public Act 94-712).
In computing the amount of a surviving spouse annuity, incremental increases
of retirement annuities to the date of death of the employee annuitant shall be
considered.
(b) If the employee was a Tier 1 regular employee, each surviving spouse annuity payable on January 1, 1988 shall be
increased on that date by 3% of the original amount of the annuity. Each
surviving spouse annuity that begins after January 1, 1988 shall be
increased on the January 1 next occurring after the annuity begins, by an
amount equal to (i) 3% of the original amount thereof if the deceased
employee was receiving a retirement annuity at the time of his death; otherwise
(ii) 0.25% of the original amount thereof for each complete
month which has elapsed since the date the annuity began.
On each January 1 after the date of the initial increase under this
subsection, each surviving spouse annuity shall be increased by 3% of the
originally granted amount of the annuity.
(c) If the participating employee was a Tier 2 regular employee, each surviving spouse annuity shall be increased (1) on each January 1 occurring on or after the commencement of the annuity if the deceased member died while receiving a retirement annuity or (2) in other cases, on each January 1 occurring after the first anniversary of the commencement of the annuity. Such annual increase shall be calculated at 3% or one-half the annual unadjusted percentage increase (but not less than zero) in the consumer price index-u for the 12 months ending with the September preceding each November 1, whichever is less, of the originally granted surviving spouse annuity. If the annual unadjusted percentage change in the consumer price index-u for the 12 months ending with the September preceding each November 1 is zero or there is a decrease, then the annuity shall not be increased. (Source: P.A. 102-210, eff. 1-1-22.)
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