Illinois Compiled Statutes 40 ILCS 5 Illinois Pension Code. Section 9-153

    (40 ILCS 5/9-153) (from Ch. 108 1/2, par. 9-153)

    Sec. 9-153. Term annuities - How computed. In any case in which an employee's credit for an annuity for himself or his widow is insufficient - at the time the annuity is fixed, - to provide an immediate life annuity of $150 a month for the employee or his widow, a term annuity of equal actuarial value of $150 a month shall be paid for such time as such payments can be made from such credits for the respective annuities.

(Source: P.A. 83-1362.)

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Last modified: February 18, 2015