Illinois Compiled Statutes 40 ILCS 5/9-141 – 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 while in service and who withdraws from service shall be entitled after his death, to an annuity fixed on the date of withdrawal.
The annuity shall be the amount provided on a reversionary annuity basis from the total sum accumulated to his credit for widow’s annuity and (if he was a present employee) widow’s prior service annuity as of the date of withdrawal.
The annuity shall be the amount provided on a reversionary annuity basis from the total sum accumulated to his credit for widow’s annuity and (if he was a present employee) widow’s prior service annuity as of the date of withdrawal.
Terms Used In Illinois Compiled Statutes 40 ILCS 5/9-141
- 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.