(40 ILCS 5/8-130)
(from Ch. 108 1/2, par. 8-130)
Annuities - Present employees and future entrants
attaining age 65 in service.
(a) A present employee who attains age 65 or more in service having
age and service and prior service annuity credits sufficient to provide
an annuity as of his age at such time equal to the amount he would have
had if employee contributions and city
contributions had been made in
accordance with this Article during his entire term of service until age
65, shall be entitled to such annuity upon withdrawal.
(b) A present employee who attains age 65 or more in service and who
does not have the credits described in paragraph (a), shall be entitled,
on the date of withdrawal, to such age and service annuity and prior
service annuity provided from the total amounts to his credit therefor
on the date of his withdrawal.
(c) A future entrant who attains age 65 in service shall be
entitled, upon withdrawal, to age and service annuity provided from the
sum accumulated for such annuity at such age.
(Source: P.A. 81-1536.)