Illinois Compiled Statutes 40 ILCS 5/5-139 – Widow’s annuity – All employees – Withdrawal before age 50 and death after age 50
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The widow’s annuity and widow’s prior service annuity for the wife of an employee who withdraws after service of 10 or more years before age 50 and later attains such age and dies while out of service, shall be fixed as of her age at the time the employee becomes age 50. She shall receive annuity, from the date of the employee’s death, of such amount as can be provided from the following sums to his credit on the date the annuity was fixed:
1. If service is 20 or more years, the sum credited for widow’s annuity and, for a present employee, widow’s prior service annuity;
2. If service is 10 or more but less than 20 years, the sum credited for widow’s annuity from employee contributions, plus 1/10 of the sum credited for widow’s annuity and, for a present employee, widow’s prior service annuity, from contributions by the city, for each year of service after the first 10 years.
1. If service is 20 or more years, the sum credited for widow’s annuity and, for a present employee, widow’s prior service annuity;
Terms Used In Illinois Compiled Statutes 40 ILCS 5/5-139
- 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.
2. If service is 10 or more but less than 20 years, the sum credited for widow’s annuity from employee contributions, plus 1/10 of the sum credited for widow’s annuity and, for a present employee, widow’s prior service annuity, from contributions by the city, for each year of service after the first 10 years.