Illinois Compiled Statutes 40 ILCS 5/8-145 – Widow’s annuity-Present employees and future entrants-Withdrawal after age 60 but before 65
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The widow of an employee who attains age 60 or more but less than age 65 in service and who withdraws, shall be entitled after his death, to an annuity fixed as of the date of his withdrawal.
The annuity shall be the amount provided on a reversionary annuity basis from the credit for widow’s annuity and (if he was a present employee) widow’s prior service annuity on the date of withdrawal.
The annuity shall be the amount provided on a reversionary annuity basis from the credit for widow’s annuity and (if he was a present employee) widow’s prior service annuity on the date of withdrawal.
Terms Used In Illinois Compiled Statutes 40 ILCS 5/8-145
- 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.