(40 ILCS 5/12-135) (from Ch. 108 1/2, par. 12-135)
Sec. 12-135.
Widow's service annuity and widow's prior service annuity.
(a) The widow of an employee who withdraws after at least 10 years
of service and before attainment of age 60 shall be entitled to a
widow's annuity beginning on the day next following his death,
if he has not received a refund upon withdrawal before age 55.
If fixation has occurred in the annuities payable on account of such
employee, the annuity to a widow shall be a reversionary annuity to be
provided from the total of the following accumulations, as of her attained age
on the date of fixation, to begin on the day next following the death of the
employee provided that the accumulation from contributions by the employer
shall not be used to an extent which, when taken with the accumulation from
employee contributions, will provide the widow an annuity in excess of 50% of
the highest salary which the employee received while in service:
(1) the accumulation from employee contributions for |
| widow's service annuity on the date when the employee withdraws, improved by regular interest to the date of fixation of the widow's annuity;
|
|
(2) 1/10 of the accumulation from contributions by
|
| the employer for widow's service annuity on the date when the employee withdraws for each year of service above 10 years up to 100% of such accumulation, improved by regular interest to the date of fixation of the widow's annuity.
|
|
(b) The widow's annuity upon death of the employee while in service,
shall be that provided from the total of the accumulations as stated
below, on the day next following the date of death of the employee as
of the widow's age on such date, provided that the accumulations from sums
contributed by the employer shall not be used to an extent which, when taken
with the deductions from salary, will provide for such widow an annuity in
excess of 50% of the highest salary which the employee received while in
service, and in no case greater than the reversionary annuity that would
be payable if the employee had retired at age 55 if he withdrew prior to
such age or had retired on annuity when he withdrew if withdrawal
occurred after age 55:
(1) the accumulation from employee contributions for
|
| service annuity and widow's service annuity on the date when he withdraws to the date of his death;
|
|
(2) 1/10 of the total of the accumulations from
|
| contributions by the employer for service annuity and widow's service annuity on the date when such employee withdraws, for each complete year of service above 10 years up to 100% of such accumulation, improved by regular interest to the date of death of the employee.
|
|
(c) The widow of an employee who withdraws or dies while in service,
upon or after attainment of age 60, and after fixation of the widow's
annuity, shall be entitled to a widow's annuity beginning on the day next
following the date of death of
the employee.
The amount of such annuity shall be that provided from the total of
the accumulations derived as stated below on the date of fixation, as of
her attained age on such date; provided that the accumulation from sums
contributed by the employer shall not be used to an extent which, when
taken with the accumulation from employee contributions for such
purpose, shall provide an annuity in excess of 50% of the highest salary
which such employee received while in service:
(1) the accumulation from employee contributions for
|
| widow's service annuity on the date of fixation of the widow's annuity;
|
|
(2) the accumulation from contributions by the
|
| employer for widow's service annuity on the date of fixation of the widow's annuity;
|
|
(3) for a present employee the accumulation for
|
| widow's prior service annuity, improved by regular interest to the date of fixation of the widow's annuity.
|
|
(d) The widow of an employee who dies while in service before
fixation of the annuity rights of such widow shall be entitled to a
widow's annuity beginning on the day next following his death.
Such annuity shall be that
provided from the total of the accumulations derived as stated below on
the date of death of the employee as of her attained age on such date;
provided that the accumulation from sums contributed by the employer
shall not be used to an extent which, when taken with the accumulation
from employee contributions, for such purpose, will provide an annuity
in excess of 50% of the highest salary received by the employee while in
service:
(1) The accumulation from employee contributions for
|
| service annuity and widow's service annuity on the date of death of the employee;
|
|
(2) the accumulation from contributions by the
|
| employer for service annuity and widow's service annuity on the date of death of the employee.
|
|
(e) The widow's service annuity or widow's prior service annuity
which shall be determined for the wife of any employee at the date of
his retirement shall be derived from the sum to the credit of such
employee for such purposes, on the date of fixation of the widow's
annuity, to provide a reversionary annuity for the wife after the death
of her husband.
(f) In lieu of the widow's annuity described above, a widow of any
employee who dies while in service, or after retirement on annuity, may
elect to receive a lump sum payment of $300 which is to be applied to
reduce the accumulations for widow's service annuity and widow's prior
service annuity, and a reduced widow's annuity from the remainder of
said accumulations. Said payment shall be applied against the
accumulations for the respective annuities in proportionate amounts. In
the event a widow elects a lump sum payment, and the total of the
aforesaid accumulations prior to adjustment for said payment is equal to
or less than $300, the total payment to said widow shall consist only of
the amount of said accumulations, and no widow's annuity shall be
payable to said widow.
(g) Any widow's annuity provided for in this section shall be
computed as provided above, except that the maximum age of such widow
for the computation of annuity for the widow shall not be more than 5
years less than the age of her employee husband.
(Source: P.A. 86-272 .)
|