Illinois Compiled Statutes 40 ILCS 5/13-214 – “Accumulated employee contributions”: The amounts, including interest …
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/13-214
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Surviving spouse: means "widow" or "widower" as the case may be. See Illinois Compiled Statutes 5 ILCS 70/1.32
“Accumulated employee contributions”: The amounts, including interest credited thereon, contributed by the employee for retirement and surviving spouse‘s annuity to the date of the employee’s withdrawal or death.