Illinois Compiled Statutes 40 ILCS 5/9-165 – Refund of widow’s annuity deductions
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/9-165
- 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.
If a male employee is (1) unmarried when he attains age 65 or (2) is married at age 65 and subsequently becomes a widower while still in service, or (3) unmarried upon withdrawal before age 65 and enters upon annuity, the sum accumulated from employee contributions for widow’s annuity shall be refunded to him.