Illinois Compiled Statutes 40 Pensions: Article 16 - Teachers' Retirement System Of The State Of Illinois

• Illinois Pension Code. - 40 ILCS 5, Section 16-101
  Creation of system. Effective July 1, 1939, there is created the "Teachers' Retirement System of the State of Illinois" for the purpose of providing...
• Illinois Pension Code. - 40 ILCS 5, Section 16-102
  Application of Article. This Article shall not apply to cities and school districts of more than 500,000 population as shown by the last preceding...
• Illinois Pension Code. - 40 ILCS 5, Section 16-103
  Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 16-104 through 16-122.1, except when the context...
• Illinois Pension Code. - 40 ILCS 5, Section 16-104
  Retirement system or system. "Retirement system" or "system": The Teachers' Retirement System of the State of Illinois. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-105
  Board. "Board": The board of trustees of the retirement system created under this Article. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-106
  Teacher. "Teacher": The following individuals, provided that, for employment prior to July 1, 1990, they are employed on a full-time basis, or if not full-time,...
• Illinois Pension Code. - 40 ILCS 5, Section 16-106.1
  Full-time teacher. "Full-time teacher": Any teacher employed 4 or more clock hours per day, 5 days per week. (Source: P.A. 86-273.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-106.2
  Part-time teacher. "Part-time teacher": Any teacher employed less than 4 clock hours per day or less than 5 days per week. (Source: P.A. 86-273.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-106.3
  Substitute teacher. "Substitute teacher": Any teacher employed on a temporary basis to replace another teacher. (Source: P.A. 86-273.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-106.4
  Tier 1 member. "Tier 1 member": A member under this Article who first became a member or participant before January 1, 2011 under any reciprocal...
• Illinois Pension Code. - 40 ILCS 5, Section 16-106.6
  Teacher certification. For purposes of this Article, a teacher shall be deemed to be certificated if he or she is required to be licensed by...
• Illinois Pension Code. - 40 ILCS 5, Section 16-107
  Member. "Member": any teacher included in the membership of this system during such membership. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-108
  Prior service. "Prior service": Service rendered prior to July 1, 1939. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-109
  Membership service. "Membership service": Service rendered on and after July 1, 1939. (Source: Laws 1963, p. 161.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-110
  Creditable service. "Creditable service": The total of prior service and membership service for which credit is allowed under this Article. (Source: Laws 1963, p.
• Illinois Pension Code. - 40 ILCS 5, Section 16-111
  Beneficiary. "Beneficiary": Any person, organization or other entity designated in writing to receive or any person receiving a survivor benefit or reversionary annuity provided...
• Illinois Pension Code. - 40 ILCS 5, Section 16-111.1
  Annuitant. "Annuitant": Any person retired on a retirement annuity or disability retirement annuity under this system or any superseded retirement fund or system. (Source:...
• Illinois Pension Code. - 40 ILCS 5, Section 16-112
  Regular interest. "Regular interest": (a) For computations based upon prior service credits, interest at the following rates compounded annually: For periods prior to July 1,...
• Illinois Pension Code. - 40 ILCS 5, Section 16-113
  Accumulated contributions. "Accumulated contributions": The sum of all contributions to this System made by or on behalf of a member in respect to membership...
• Illinois Pension Code. - 40 ILCS 5, Section 16-114
  Annuity. "Annuity": A series of monthly payments. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-118
  Retirement. "Retirement": Entry upon a retirement annuity or receipt of a single-sum retirement benefit granted under this Article after termination of active service as a...
• Illinois Pension Code. - 40 ILCS 5, Section 16-121
  Salary. "Salary": The actual compensation received by a teacher during any school year and recognized by the system in accordance with rules of the board....
• Illinois Pension Code. - 40 ILCS 5, Section 16-122
  Actuarial equivalent. "Actuarial equivalent": A benefit or sum of equal value to another benefit or sum when computed on the basis of mortality tables...
• Illinois Pension Code. - 40 ILCS 5, Section 16-122.1
  School term. "School term": The period specified under Section 24-1 of the School Code. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-123
  Membership of System. (a) The membership of this System shall be composed of all teachers employed after June 30, 1939 who become members as...
• Illinois Pension Code. - 40 ILCS 5, Section 16-125
  Creditable service - statement of services. A member claiming service credit shall file a detailed statement covering the period for which credit is claimed....
• Illinois Pension Code. - 40 ILCS 5, Section 16-127
  Computation of creditable service. (a) Each member shall receive regular credit for all service as a teacher from the date membership begins, for which satisfactory...
• Illinois Pension Code. - 40 ILCS 5, Section 16-128
  Creditable service - required contributions. (a) In order to receive the creditable service specified under subsection (b) of Section 16-127, a member is required to...
• Illinois Pension Code. - 40 ILCS 5, Section 16-129.1
  Optional increase in retirement annuity. (a) A member of the System may qualify for the augmented rate under subdivision (a)(B)(1) of Section 16-133 for...
• Illinois Pension Code. - 40 ILCS 5, Section 16-130
  Creditable service - whole or portion of year. (a) Except as provided in paragraph (6) of subsection (b) of Section 16-127, only one year...
• Illinois Pension Code. - 40 ILCS 5, Section 16-130.1
  Any active member of the Judges Retirement System may apply for transfer of his credits and creditable service accumulated under this System to the...
• Illinois Pension Code. - 40 ILCS 5, Section 16-131.1
  Transfer of creditable service to the General Assembly Retirement System. (a) An active member of the General Assembly Retirement System, and until May 1,...
• Illinois Pension Code. - 40 ILCS 5, Section 16-131.2
  Validation of service credits. An active member of the General Assembly having no creditable service in the system, may establish creditable service for periods...
• Illinois Pension Code. - 40 ILCS 5, Section 16-131.3
  Transfer of creditable service to Article 8, 9 or 13 fund. (a) Any city officer as defined in Section 8-243.2 of this Code, any...
• Illinois Pension Code. - 40 ILCS 5, Section 16-131.4
  (a) Until July 1, 1989, any county sheriff who is a participant in the pension fund established under Article 7 of this Act may...
• Illinois Pension Code. - 40 ILCS 5, Section 16-131.5
  (a) Persons otherwise required or eligible to participate in this System who elect to continue participation in the General Assembly System under Section 2-117.1...
• Illinois Pension Code. - 40 ILCS 5, Section 16-131.6
  Transfer to Article 14. (a) Any active member of the State Employees' Retirement System of Illinois may apply for transfer to that System of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-132
  Retirement annuity eligibility. (a) A member who has at least 20 years of creditable service is entitled to a retirement annuity upon or after attainment...
• Illinois Pension Code. - 40 ILCS 5, Section 16-133
  Retirement annuity; amount. (a) The amount of the retirement annuity shall be (i) in the case of a person who first became a teacher under...
• Illinois Pension Code. - 40 ILCS 5, Section 16-133.1
  Automatic annual increase in annuity. (a) This subsection (a) is subject to subsections (a-1) and (a-2). Each member with creditable service and retiring on or...
• Illinois Pension Code. - 40 ILCS 5, Section 16-133.2
  Early retirement without discount. (a) A member retiring after June 1, 1980 and on or before June 30, 2005 (or as provided in subsection (b)...
• Illinois Pension Code. - 40 ILCS 5, Section 16-133.3
  Early retirement incentives for State employees. (a) To be eligible for the benefits provided in this Section, a person must: (1) be a member of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-133.4
  Early retirement incentives for teachers. (a) To be eligible for the benefits provided in this Section, a member must: (1) be a member of this...
• Illinois Pension Code. - 40 ILCS 5, Section 16-133.5
  Early retirement incentives for teachers. (a) To be eligible for the benefits provided in this Section, a member must: (1) be a member of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-134
  Additional retirement annuity. (a) An annuitant receiving a retirement annuity on June 30, 1947 who has at least 25 years of creditable service shall...
• Illinois Pension Code. - 40 ILCS 5, Section 16-135
  Supplementary retirement annuity. (a) An annuitant who is receiving a retirement annuity on June 30, 1961 of less than $50 for each year of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-136
  Reversionary annuity. A member entitled to a retirement annuity may elect at the time of retirement to receive a reduced retirement annuity and provide...
• Illinois Pension Code. - 40 ILCS 5, Section 16-136.1
  Annual increase for certain annuitants. (a) Any annuitant receiving a retirement annuity on June 30, 1969 and any member retiring after June 30, 1969 shall...
• Illinois Pension Code. - 40 ILCS 5, Section 16-136.2
  Minimum retirement annuity. (a) Any annuitant receiving a retirement annuity under this Article is entitled to such additional amount of retirement annuity under this...
• Illinois Pension Code. - 40 ILCS 5, Section 16-136.3
  Alternate minimum retirement annuity. (a) Any member retiring with at least 10 years of creditable service on or before December 31, 1983 is entitled...
• Illinois Pension Code. - 40 ILCS 5, Section 16-136.4
  Single-sum retirement benefit. (a) A member who has less than 5 years of creditable service shall be entitled, upon written application to the board,...
• Illinois Pension Code. - 40 ILCS 5, Section 16-138
  Refund of contributions upon death of member or annuitant. Upon the death of a member or annuitant, the following amount shall be payable (i)...
• Illinois Pension Code. - 40 ILCS 5, Section 16-140
  Survivors' benefits - definitions. (a) For the purpose of Sections 16-138 through 16-143.2, the following terms shall have the following meanings, unless the context otherwise...
• Illinois Pension Code. - 40 ILCS 5, Section 16-141
  Survivors' benefits - death in service. (a) Upon the death of a member in service occurring on or after July 1, 1990, a beneficiary...
• Illinois Pension Code. - 40 ILCS 5, Section 16-142
  Survivors' benefits - death out of service. The following benefit shall be payable to the survivors of an annuitant or to the survivors of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-142.1
  Survivors' benefits - minimum amounts. (a) The minimum survivor's benefit for any one beneficiary shall be the lesser of (1) $30 per month, or...
• Illinois Pension Code. - 40 ILCS 5, Section 16-142.2
  Survivors' benefits - maximum amounts. (a) When the death of a member or annuitant occurs after August 21, 1981, the following maximum limitations shall...
• Illinois Pension Code. - 40 ILCS 5, Section 16-142.3
  Required distributions. (a) A person who would be eligible to receive a monthly survivor benefit under this Article but for the fact that the...
• Illinois Pension Code. - 40 ILCS 5, Section 16-143
  Survivors' benefits - other conditions and limitations. The benefits provided under Sections 16-141 and 16-142, shall be subject to the following further conditions and...
• Illinois Pension Code. - 40 ILCS 5, Section 16-143.1
  Increase in survivor benefits. (a) Beginning January 1, 1990, each survivor's benefit and each reversionary annuity payable under Section 16-136 shall be increased by...
• Illinois Pension Code. - 40 ILCS 5, Section 16-143.2
  Refund of contributions for survivor benefits at retirement. (a) If at the time of applying for a retirement annuity under Section 16-132, or while...
• Illinois Pension Code. - 40 ILCS 5, Section 16-149
  Disability benefit. (a) A disability benefit is payable to a member who was in active service on or after June 30, 1977 and has at...
• Illinois Pension Code. - 40 ILCS 5, Section 16-149.1
  Occupational disability benefit. (a) A member who becomes totally and immediately incapacitated for duty as the proximate result of bodily injuries sustained or a hazard...
• Illinois Pension Code. - 40 ILCS 5, Section 16-149.2
  Disability retirement annuity. (a) A member whose disability benefit has been terminated under the provisions of Section 16-149 may be retired on a disability retirement...
• Illinois Pension Code. - 40 ILCS 5, Section 16-149.3
  Increase in disability retirement annuity. An annuitant who retired on account of disability prior to July 22, 1947 may have the amount of his...
• Illinois Pension Code. - 40 ILCS 5, Section 16-149.4
  Supplementary disability retirement annuity. (a) An annuitant receiving a disability retirement annuity on June 30, 1961 of less than $50 for each year of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-149.5
  Automatic increase in disability benefit. Each disability benefit payable under Section 16-149, 16-149.1 or 16-149.2 shall be increased by 7% of the original fixed...
• Illinois Pension Code. - 40 ILCS 5, Section 16-149.6
  Limited employment during disability. (a) A teacher who (i) has been receiving a disability, occupational disability, or disability retirement benefit under Section 16-149, 16-149.1, or...
• Illinois Pension Code. - 40 ILCS 5, Section 16-150
  Re-entry. (a) This Section does not apply to an annuitant who returns to teaching under the program established in Section 16-150.1, for the duration of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-150.1
  Return to teaching in subject shortage area. (a) As used in this Section, "eligible employment" means employment beginning on or after July 1, 2003 and...
• Illinois Pension Code. - 40 ILCS 5, Section 16-151
  Refund. Upon termination of employment as a teacher for any cause other than death or retirement, a member shall be paid the following amount...
• Illinois Pension Code. - 40 ILCS 5, Section 16-152
  Contributions by members. (a) Except as provided in subsection (a-5), each member shall make contributions for membership service to this System as follows: (1) Effective...
• Illinois Pension Code. - 40 ILCS 5, Section 16-152.1
  Pickup of contributions. (a) Each employer may pick up the member contributions required under Section 16-152 for all salary earned after December 31, 1981....
• Illinois Pension Code. - 40 ILCS 5, Section 16-152.5
  Use of contributions for health care subsidies. The System shall not use any contribution received by the System under this Article to provide a subsidy...
• Illinois Pension Code. - 40 ILCS 5, Section 16-153.1
  (Repealed). (Source: P.A. 89-25, eff. 6-21-95. Repealed internally, eff. 7-1-96.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-153.2
  (Repealed). (Source: P.A. 89-25, eff. 6-21-95. Repealed internally, eff. 7-1-98.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-153.3
  (Repealed). (Source: P.A. 89-25, eff. 6-21-95. Repealed internally, eff. 7-1-96.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-153.4
  (Repealed). (Source: P.A. 89-25, eff. 6-21-95. Repealed internally, eff. 7-1-96.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-153.5
  Election of medicare coverage. (a) The System shall conduct a divided medicare coverage referendum, open to teachers continuously employed by the same employer since...
• Illinois Pension Code. - 40 ILCS 5, Section 16-154
  Deductions from salary. (a) Required contributions. The governing body of each school district and of each employing unit coming under this System, and the...
• Illinois Pension Code. - 40 ILCS 5, Section 16-155
  Report to system and payment of deductions. (a) The governing body of each school district shall make two deposits each month. The deposit for...
• Illinois Pension Code. - 40 ILCS 5, Section 16-157
  Consent to deductions - discharge of claims. Every member is deemed to have consented to the contributions required under this Article. Payment of salary...
• Illinois Pension Code. - 40 ILCS 5, Section 16-158
  Contributions by State and other employing units. (a) The State shall make contributions to the System by means of appropriations from the Common School Fund...
• Illinois Pension Code. - 40 ILCS 5, Section 16-158.1
  Actions to enforce payments by school districts and other employing units. Any school district or other employing unit failing to transmit to the System...
• Illinois Pension Code. - 40 ILCS 5, Section 16-158.2
  Obligations of State; funding guarantee. (a) Beginning July 1, 2014, the State shall be obligated to contribute to the System in each State fiscal year...
• Illinois Pension Code. - 40 ILCS 5, Section 16-163
  Board created. A board of 13 members constitutes the board of trustees authorized to carry out the provisions of this Article and is responsible for...
• Illinois Pension Code. - 40 ILCS 5, Section 16-164
  Board - appointed members - vacancies. Terms of office for the appointed members shall begin on July 15 of an even-numbered year, except that the...
• Illinois Pension Code. - 40 ILCS 5, Section 16-165
  Board; elected members; vacancies. (a) In each odd-numbered year, there shall be elected 2 teachers who shall hold office for a term of 4 years...
• Illinois Pension Code. - 40 ILCS 5, Section 16-166
  Board - oath of office. Each trustee, prior to assuming office, shall take and subscribe to an oath that he or she will diligently...
• Illinois Pension Code. - 40 ILCS 5, Section 16-167
  Board - compensation and expenses. The trustees shall serve without compensation, but shall be reimbursed for all necessary expenses. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-168
  Board - meeting - rules - voting. The board shall meet regularly at least 4 times a year at such time as it may...
• Illinois Pension Code. - 40 ILCS 5, Section 16-169
  Board - secretary and other employees. The board, by a majority vote of all its members, shall appoint a secretary who shall not be a...
• Illinois Pension Code. - 40 ILCS 5, Section 16-169.1
  Testimony and the production of records. The secretary of the Board shall have the power to issue subpoenas to compel the attendance of witnesses and...
• Illinois Pension Code. - 40 ILCS 5, Section 16-170
  Board powers and duties. The board shall have the powers and duties stated in Sections 16-171 through 16-181.2, in addition to the other powers...
• Illinois Pension Code. - 40 ILCS 5, Section 16-171
  To sue and be sued. To sue and be sued in the name of the board. The board shall not be a corporation. The board...
• Illinois Pension Code. - 40 ILCS 5, Section 16-172
  To pay obligations and collect funds due. To pay promptly expenses and other obligations that accrue under this Article and to see that all...
• Illinois Pension Code. - 40 ILCS 5, Section 16-173
  To maintain records and accounts. To maintain a separate account for each individual member and annuitant; to maintain adequate accounting records which shall reflect...
• Illinois Pension Code. - 40 ILCS 5, Section 16-174
  To maintain record of proceedings, etc. To maintain a permanent record of all board proceedings, which shall be open to public inspection. (Source: P.A.
• Illinois Pension Code. - 40 ILCS 5, Section 16-175
  To make annual report. To make an annual financial report for each fiscal year ended June 30. A copy of the report shall be...
• Illinois Pension Code. - 40 ILCS 5, Section 16-176
  To adopt actuarial assumptions. For the 5-year period ending June 30, 1997 and every 5 years thereafter, the actuary, as technical advisor, shall make an...
• Illinois Pension Code. - 40 ILCS 5, Section 16-178
  To receive gifts and legacies. To receive any gifts or legacies for the benefit of the retirement system. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-179
  To be trustee of reserves and to invest funds. To be the trustee of the reserves created under this Article, and to invest and...
• Illinois Pension Code. - 40 ILCS 5, Section 16-179.1
  To transfer investment functions and securities. The board may, by resolution duly adopted by a majority vote of its membership, transfer to the Illinois...
• Illinois Pension Code. - 40 ILCS 5, Section 16-179.2
  To Create and Maintain a Salary Reduction Plan. (1) To develop a Salary Reduction Plan for members as permitted under the relevant Sections of...
• Illinois Pension Code. - 40 ILCS 5, Section 16-181
  To make deposits. To keep sufficient cash on deposit in one or more banks, savings and loan associations or trust companies, organized under the...
• Illinois Pension Code. - 40 ILCS 5, Section 16-181.1
  To provide office space. To rent, lease, or acquire such space as may be necessary for the proper administration of the system. (Source: P.A.
• Illinois Pension Code. - 40 ILCS 5, Section 16-181.2
  To furnish statements. To furnish annually a statement of account to each teacher. (Source: P.A. 83-1440.)
• Illinois Pension Code. - 40 ILCS 5, Section 16-181.3
  To prescribe the manner of payment. To prescribe by rule the manner of repaying refunds and purchasing the various optional service credits permitted under...
• Illinois Pension Code. - 40 ILCS 5, Section 16-182
  Members' Contribution Reserve. On July 1, 2003, the Members' Contribution Reserve is abolished and the remaining balance shall be transferred from that Reserve to the...
• Illinois Pension Code. - 40 ILCS 5, Section 16-184
  Supplementary Annuity Reserve. On July 1, 2003, the Supplemental Annuity Reserve is abolished and any remaining balance shall be transferred from that Reserve to...
• Illinois Pension Code. - 40 ILCS 5, Section 16-185
  Benefit Trust Reserve. (a) On July 1, 2003, the Employer's Contribution Reserve shall be renamed the Benefit Trust Reserve. The Benefit Trust Reserve shall...
• Illinois Pension Code. - 40 ILCS 5, Section 16-186.3
  Reserve for minimum retirement annuity. (a) A Minimum Retirement Annuity Reserve is established for the purpose of crediting funds received and charging disbursements for...
• Illinois Pension Code. - 40 ILCS 5, Section 16-187
  Custodian of fund - warrants and vouchers - audits. (a) The State Treasurer is ex-officio custodian of the funds of the retirement system. He...
• Illinois Pension Code. - 40 ILCS 5, Section 16-189.1
  Benefits payable monthly. Retirement annuities and other benefits, unless otherwise specified in this Article, shall be paid in 12 monthly installments as of the...
• Illinois Pension Code. - 40 ILCS 5, Section 16-190
  Annuities, etc., - exempt. The right of a person to a retirement annuity or other benefit, to the return of contributions, the retirement annuity...
• Illinois Pension Code. - 40 ILCS 5, Section 16-190.1
  Payment of benefits on account of minors, disabled persons and others. Benefits under this Article due minors or disabled persons as defined in Section...
• Illinois Pension Code. - 40 ILCS 5, Section 16-191
  No gain or profit on investments. No trustee or employee of the board shall have any interest in the gains or profits of any...
• Illinois Pension Code. - 40 ILCS 5, Section 16-192
  Correction of errors. Should any change or error in the records result in any member, annuitant or beneficiary receiving from the system more or...
• Illinois Pension Code. - 40 ILCS 5, Section 16-193
  Retirement Systems Reciprocal Act. The "Retirement Systems Reciprocal Act", being Article 20 of this Code, as now enacted and hereafter amended, is hereby adopted...
• Illinois Pension Code. - 40 ILCS 5, Section 16-197
  Undivided interest. All assets of the system shall be invested as one fund and no person, group of persons or entity shall have any...
• Illinois Pension Code. - 40 ILCS 5, Section 16-198
  Fraud. Any person, member, trustee, or employee of the board who knowingly makes any false statement or falsifies or permits to be falsified any...
• Illinois Pension Code. - 40 ILCS 5, Section 16-199
  Felony conviction. None of the benefits provided for in this Article shall be paid to any person who is convicted of any felony relating...
• Illinois Pension Code. - 40 ILCS 5, Section 16-200
  Administrative review. The Administrative Review Law, and all amendments and modifications thereof, and the rules adopted pursuant thereto, shall apply to and govern all...
• Illinois Pension Code. - 40 ILCS 5, Section 16-201
  General provisions and savings clause. The provisions of Article 1 and Article 23 of this Code apply to this Article as though such provisions...
• Illinois Pension Code. - 40 ILCS 5, Section 16-202
  Savings clause. The repeal or amendment of any Section or provision of this Article by this amendatory Act of 1984 shall not affect or...
• Illinois Pension Code. - 40 ILCS 5, Section 16-203
  Application and expiration of new benefit increases. (a) As used in this Section, "new benefit increase" means an increase in the amount of any benefit...
• Illinois Pension Code. - 40 ILCS 5, Section 16-205
  Defined contribution plan. (a) By July 1, 2015, the System shall prepare and implement a voluntary defined contribution plan for up to 5% of eligible...
• Illinois Pension Code. - 40 ILCS 5, Section 16-206
  Defined contribution plan; termination. If the defined contribution plan is terminated or becomes inoperative pursuant to law, then each participant in the plan shall automatically...

Last modified: February 18, 2015