Illinois Compiled Statutes 40 ILCS 5/2-118 – Participants subject to survivor’s annuity. Every male participant in …
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 40 ILCS 5/2-118
- 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.
Participants subject to survivor’s annuity. Every male participant in service after August 2, 1949 and each female participant in service after July 1, 1971 shall be subject to the provisions relating to a survivor’s annuity.