(40 ILCS 5/12-131) (from Ch. 108 1/2, par. 12-131)
Sec. 12-131.
Retirement at age 60 or over.
An employee, upon
withdrawal upon or after age 60 with 4 or more years of service, shall
be entitled to a retirement annuity. Such annuity for an employee who
entered service prior to July 1, 1971 shall be that provided, as of his
age on the date of retirement, from the total of the accumulations
described below:
(a) the accumulation from employee contributions for service annuity
on the date of withdrawal, improved by
regular interest to the date when he enters upon retirement annuity;
(b) the accumulation from the contributions by the employer for
service annuity, on the date of the employee's withdrawal, improved by
regular interest to the date when he enters upon retirement annuity.
(Source: P.A. 86-272.)
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