(40 ILCS 5/11-134) (from Ch. 108 1/2, par. 11-134)

Sec. 11-134. Minimum annuities.

(a) An employee whose withdrawal occurs after July 1, 1957 at age 60 or
over, with 20 or more years of service, (as service is defined or computed
in Section 11-216), for whom the age and service and prior service annuity
combined is less than the amount stated in this Section, shall, from and
after the date of withdrawal, in lieu of all annuities otherwise provided
in this Article, be entitled to receive an annuity for life of an amount
equal to 1 2/3% for each year of service, of the highest average annual
salary for any 5 consecutive years within the last 10 years of service
immediately preceding the date of withdrawal; provided, that in the case of
any employee who withdraws on or after July 1, 1971, such employee age 60
or over with 20 or more years of service, shall be entitled to instead
receive an annuity for life equal to 1.67% for each of the first 10 years
of service; 1.90% for each of the next 10 years of service; 2.10% for each
year of service in excess of 20 but not exceeding 30; and 2.30% for each
year of service in excess of 30, based on the highest average annual salary
for any 4 consecutive years within the last 10 years of service immediately
preceding the date of withdrawal.

An employee who withdraws after July 1, 1957 and before January 1,
1988, with 20 or more years of service, before age 60, shall be entitled to
an annuity, to begin not earlier than age 55, if under such age at
withdrawal, as computed in the last preceding paragraph, reduced 0.25% if
the employee was born before January 1, 1936, or 0.5% if the employee was
born on or after January 1, 1936, for each full month or fractional part
thereof that his attained age when such annuity is to begin is less than 60.

Any employee born before January 1, 1936 who withdraws
with 20 or more years of service, and any employee with 20 or more years of
service who withdraws on or after January 1, 1988, may elect to receive, in
lieu of any other employee
annuity provided in this Section, an annuity for life equal to 1.80% for
each of the first 10 years of service, 2.00% for each of the next 10 years
of service, 2.20% for each year of service in excess of 20, but not
exceeding 30, and 2.40% for each year of service in excess of 30,
of the highest average annual salary for any 4
consecutive years within the last 10 years of service immediately preceding
the date of withdrawal, to begin not earlier than upon attained age of 55
years, if under such age at withdrawal, reduced 0.25% for each full month
or fractional part thereof that his attained age when annuity is to begin
is less than 60; except that an employee retiring on or after January 1,
1988, at age 55 or over but less than age 60, having at least 35 years of
service, or an employee retiring on or after July 1, 1990, at age 55
or over but less than age 60, having at least 30 years of service,
or an employee retiring on or after the effective date of this amendatory Act
of 1997, at age 55 or over but less than age 60, having at least 25 years of
service, shall not be subject to the reduction in retirement annuity because
of retirement below age 60.

However, in the case of an employee who retired on or after January 1,
1985 but before January 1, 1988, at age 55 or older and with at least 35
years of service, and who was subject under this subsection (a) to the
reduction in retirement annuity because of retirement below age 60, that
reduction shall cease to be effective January 1, 1991, and the retirement
annuity shall be recalculated accordingly.

Any employee who withdraws on or after July 1, 1990, with 20 or more
years of service, may elect to receive, in lieu of any other employee
annuity provided in this Section, an annuity for life equal to 2.20% for
each year of service if withdrawal is before January 1, 2002, or
2.40% for each year of service if withdrawal is on or after January 1,
2002, of the highest average annual salary for any 4
consecutive years within the last 10 years of service immediately preceding
the date of withdrawal, to begin not earlier than upon attained age of 55
years, if under such age at withdrawal, reduced 0.25% for each full month
or fractional part thereof that his attained age when annuity is to begin
is less than 60; except that an employee retiring at age 55 or over but
less than age 60, having at least 30 years of service, shall not be subject
to the reduction in retirement annuity because of retirement below age 60.

Any employee who withdraws on or after the effective date of this
amendatory Act of 1997 with 20 or more years of service may elect to receive,
in lieu of any other employee annuity provided in this Section, an annuity for
life equal to 2.20% for each year of service if withdrawal is before
January 1, 2002, or 2.40% for each year of service if withdrawal is
on or
after January 1, 2002, of the
highest average annual
salary for any 4 consecutive years within the last 10 years of service
immediately preceding the date of withdrawal, to begin not earlier than upon
attainment of age 55 (age 50 if the employee has at least 30 years of service),
reduced 0.25% for each full month or remaining fractional part thereof that the
employee's attained age when annuity is to begin is less than 60; except that
an employee retiring at age 50 or over with at least 30 years of service or at
age 55 or over with at least 25 years of service shall not be subject to the
reduction in retirement annuity because of retirement below age 60.

The maximum annuity payable under this paragraph (a) of this Section
shall not exceed 70% of highest average annual salary in the case of an
employee who withdraws prior to July 1, 1971, 75% if withdrawal takes place on
or after July 1, 1971 and prior to January 1, 2002, or 80% if
withdrawal
is on or after January 1, 2002.  For the purpose of the
minimum annuity
provided in said paragraphs $1,500 shall be considered the minimum annual
salary for any year; and the maximum annual salary to be considered for the
computation of such annuity shall be $4,800 for any year prior to 1953,
$6,000 for the years 1953 to 1956, inclusive, and the actual annual salary,
as salary is defined in this Article, for any year thereafter.

(b) For an employee receiving disability benefit, his salary for annuity
purposes under this Section shall, for all periods of disability benefit
subsequent to the year 1956, be the amount on which his disability benefit
was based.

(c) An employee with 20 or more years of service, whose entire
disability benefit credit period expires prior to attainment of age 55
while still disabled for service, shall be entitled upon withdrawal to the
larger of (1) the minimum annuity provided above assuming that he is then
age 55, and reducing such annuity to its actuarial equivalent at his
attained age on such date, or (2) the annuity provided from his age and
service and prior service annuity credits.

(d) The minimum annuity provisions as aforesaid shall not apply to any
former employee receiving an annuity from the fund, and who re-enters
service as an employee, unless he renders at least 3 years of additional
service after the date of re-entry.

(e) An employee in service on July 1, 1947, or who became a contributor
after July 1, 1947 and prior to July 1, 1950, or who shall become a
contributor to the fund after July 1, 1950 prior to attainment of age 70,
who withdraws after age 65 with less than 20 years of service, for whom the
annuity has been fixed under the foregoing Sections of this Article shall,
in lieu of the annuity so fixed, receive an annuity as follows:

Such amount as he could have received had the accumulated amounts for
annuity been improved with interest at the effective rate to the date of
his withdrawal, or to attainment of age 70, whichever is earlier, and had
the city contributed to such earlier date for age and service annuity the
amount that would have been contributed had he been under age 65, after the
date his annuity was fixed in accordance with this Article, and assuming
his annuity were computed from such accumulations as of his age on such
earlier date. The annuity so computed shall not exceed the annuity which
would be payable under the other provisions of this Section if the employee
was credited with 20 years of service and would qualify for annuity
thereunder.

(f) In lieu of the annuity provided in this or in any other Section of
this Article, an employee having attained age 65 with at least 15 years of
service who withdraws from service on or after July 1, 1971 and whose
annuity computed under other provisions of this Article is less than the
amount provided under this paragraph shall be entitled to receive a minimum
annual annuity for life equal to 1% of the highest average annual salary
for any 4 consecutive years within the last 10 years of service immediately
preceding retirement for each year of his service plus the sum of $25 for
each year of service. Such annual annuity shall not exceed the maximum
percentages stated under paragraph (a) of this Section of such highest
average annual salary.

(f-1) Instead of any other retirement annuity provided in this Article,
an employee who has at least 10 years of service and withdraws from service
on or after January 1, 1999 may elect to receive a retirement annuity for
life, beginning no earlier than upon attainment of age 60, equal to 2.2%
if withdrawal is before January 1, 2002, or 2.4% for each year of
service if
withdrawal is on or after January 1, 2002, of final
average salary for
each
year of service, subject to a maximum of 75% of final average salary
if withdrawal is before January 1, 2002, or 80% if withdrawal is on
or after
January 1, 2002.  For the purpose of calculating this
annuity, "final average
salary" means the highest average annual salary for any 4 consecutive years
in the last 10 years of service. Notwithstanding any provision of this subsection to the contrary, the "final average salary" for a participant that received credit under item (3) of subsection (c) of Section 11-215 means the highest average salary for any 4 consecutive years (or any 8 consecutive years if the employee first became a participant on or after January 1, 2011) in the 10 years immediately prior to the leave of absence, and adding to that highest average salary, the product of (i) that highest average salary, (ii) the average percentage increase in the Consumer Price Index during each 12-month calendar year for the calendar years during the participant's leave of absence, and (iii) the length of the leave of absence in years, provided that this shall not exceed the participant's salary at the local labor organization.  For purposes of this Section, the Consumer Price Index is the Consumer Price Index for All Urban Consumers for all items published by the United States Department of Labor.

(g) Any annuity payable under the preceding subsections of this Section
11-134 shall be paid in equal monthly installments.

(h) The amendatory provisions of part (a) and (f) of this Section shall
be effective July 1, 1971 and apply in the case of every qualifying
employee withdrawing on or after July 1, 1971.

(h-1) The changes made to this Section by Public Act 92-609 (increasing the retirement
formula to 2.4% per year of service and increasing the maximum to 80%) apply
to persons who withdraw from service on or after January 1, 2002, regardless
of whether that withdrawal takes place before the effective date of that Act.  In the case of a person who withdraws from service
on or after January 1, 2002 but begins to receive a retirement annuity before
July 1, 2002, the annuity
shall be recalculated, with the increase resulting from Public Act 92-609
accruing from the date the retirement annuity
began.  The changes made by Public Act 92-609 control over the changes made
by Public Act 92-599, as provided in Section 95 of P.A. 92-609.

(i) The amendatory provisions of this amendatory Act of 1985 relating to
the discount of annuity because of retirement prior to attainment of age 60
and increasing the retirement formula for those born before January 1, 1936,
shall apply only to qualifying employees withdrawing on or after
August 16, 1985.

(j) Beginning on January 1, 1999, the minimum amount of employee's annuity
shall be $850 per month for life for the following classes of employees,
without regard to the fact that withdrawal occurred prior to the effective
date of this amendatory Act of 1998:

(1) any employee annuitant alive and receiving a life annuity on the effective date of