(40 ILCS 5/14-112)
(from Ch. 108 1/2, par. 14-112)
Level Income Option.
A covered employee who retires
from service prior to the age of becoming eligible for old age insurance
payments under the Federal Social Security Act and who at the time of
retirement is fully insured under that Act, may elect to have the
retirement annuity increased prior to such eligible age and reduced
after such age by amounts which have equivalent actuarial values. Such
modification is for the purpose of coordinating a member's retirement
annuity with old age insurance benefits receivable under that Federal
However, the option under this Section is not available if the resulting
payments by the System after the employee becomes eligible for old age insurance
payments under the Federal Social Security Act would be less than $10 per month.
(Source: P.A. 81-863.)