40 ILCS 5/9-151

(40 ILCS 5/9-151) (from Ch. 108 1/2, par. 9-151)

Sec. 9-151.

Mortality tables and interest rates.

(a) Any single life annuity fixed or granted to any employee who was a
participant on or before January 1, 1954, or any reversionary or single
life annuity, fixed for or granted to a wife or widow shall be computed, in
the case of the employee as of his attained age when the annuity is fixed
or granted, and in the case of the wife or widow, as of employee's age and
that of his wife or widow on the date her annuity is fixed or granted,
provided that if the wife or widow is older than 5 years the junior of her
husband her age shall be assumed 5 years less than his. The American
Experience Table of Mortality with interest at 4% per annum shall be used
for the computation of the annuity values in this paragraph.

(b) Until the effective date of this amendatory Act of 1985, any single
life annuity fixed or granted to any employee who becomes
a participant for the first time after January 1, 1954, or any reversionary
or single life annuity, fixed or granted to the wife or widow shall be
computed, in the case of the employee as of his attained age when the
annuity is fixed or granted, and in the case of the wife or widow her age
shall be taken as 4 years younger than her actual age, or 4 years younger
than the age of her husband, whichever will produce the lower age, as of
the date the employee's, or the wife's or widow's annuity is fixed or
granted. The Combined Annuity Mortality Table for Male Lives with interest
at 3% per annum shall be used for the computation of the single life
employee annuity values in this paragraph. Such table shall also be used
for the computation of single life widow annuity values and for the
computation of the reversionary annuities specified in this paragraph with
the female life taken as 4 years less than the male life.

On or after the effective date of this amendatory Act of 1985, any
single life annuity fixed or granted to any employee who becomes a
participant for the first time after January 1, 1954, or any reversionary
or single life annuity fixed or granted to a wife or widow, shall be
computed, in the case of an employee as of his attained age when the
annuity is fixed or granted, and in the case of the wife or widow her age
shall be taken as the lower of her actual age or the age of her husband as
of the date the employee's or wife's or widow's annuity is fixed or
granted.  The Combined Annuity Mortality Table for Male Lives with
interest at 3% per annum shall be used for the computation of the single
life employee and widow annuity values in this paragraph.  Such table shall
also be used for the computation of the reversionary annuity values
specified in this paragraph with the employee life taken as 4 years less
than the male life and the spouse life taken as  the male life.
Any increased costs of a local government attributable to this amendatory
Act of 1985 are not reimbursable by the State.

(c) All sums credited to any employee for annuity purposes when he
withdraws from service before age 55 shall be improved with interest at the
effective rate thereafter while he is not in service and has not entered
upon annuity until he attains age 65.

(d) The amount of widow's annuity or widow's prior service annuity which
shall be fixed for the wife of an employee who is alive shall be calculated
as a reversionary annuity derived from the total accumulated sum to the
employee's credit for widow's annuity and widow's prior service annuity on
the date the annuity is fixed. An annuity for a widow shall be computed as
of her age at the date of fixation, subject to the foregoing provisions of
this Section.

(Source: P.A. 84-306.)