(40 ILCS 5/15-153) (from Ch. 108 1/2, par. 15-153)
Sec. 15-153.
Disability benefits - Amount.
The disability benefit shall
be the greater of (1) 50% of the basic compensation which would have been paid
had the participant continued in service for the entire period during which
disability benefits are payable, excluding wage or salary increases subsequent
to the date of disability or extra prospective earnings on a summer teaching
contract or other extra service not yet entered upon or (2) 50% of the
participant's average earnings during the 24 months immediately preceding the
month in which disability occurs. In determining the disability benefit, the
basic compensation of a participating employee on leave of absence or on
lay-off status shall be assumed to be equal to his or her basic compensation
on the date the leave of absence or lay-off begins.
If the disability benefit is 50% of basic compensation, payments during the
academic year shall accrue over the period that the basic
compensation would have been paid had the participant continued in
service. If the disability benefit is 50% of the average earnings of the
participant during the 24 months immediately preceding the month in
which disability occurs, payments during the year shall accrue
over a period of 12 months. Disability benefits shall be paid as of the
end of each calendar month during which payments accrue. Payments for
fractional parts of a month shall be determined by prorating the total
amount payable for the full month on the basis of days elapsing during
the month. Any disability benefit accrued but unpaid on the death of
a participant shall be paid to the participant's beneficiary.
(Source: P.A. 93-347, eff. 7-24-03.)
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