(40 ILCS 5/7-159) (from Ch. 108 1/2, par. 7-159)
Sec. 7-159.
Surviving spouse annuity - refund of survivor credits.
(a) Any employee annuitant who (1) upon the date a retirement annuity
begins is not then married, or (2) is married to a person who would not qualify
for surviving spouse annuity if the person died on such date, is entitled to a
refund of the survivor credits including interest accumulated on the date the
annuity begins, excluding survivor credits and interest thereon credited during
periods of disability, and no spouse shall have a right to any surviving spouse
annuity from this Fund. If the employee annuitant
reenters service and upon subsequent retirement has a spouse who would
qualify for a surviving spouse annuity, the employee annuitant may pay the
fund the amount of the refund plus interest at the effective rate at the
date of payment. The payment shall qualify the spouse for a surviving
spouse annuity and the amount paid shall be considered as survivor
contributions.
(b) Instead of a refund under subsection (a), the retiring employee may
elect to convert the amount of the refund into an annuity, payable
separately from the retirement annuity. If the annuitant dies before the
guaranteed amount has been distributed, the remainder shall be paid in a lump
sum to the designated beneficiary of the annuitant. The Board shall adopt any
rules necessary for the implementation of this subsection.
(Source: P.A. 90-766, eff. 8-14-98.)
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