(40 ILCS 5/9-127)
(from Ch. 108 1/2, par. 9-127)
Annuities - Present employees and future
entrants - Withdrawal after age 50 and prior to age 60.
An employee who (i) withdraws prior to January 1, 1988,
having attained age 55 or more but less than age 60 in
service and having 10 or more years of service at date of withdrawal, or (ii)
beginning January 1, 1988, attains age 50 in the service and withdraws
before age 60 with at least 10 years of creditable service, shall
be entitled to annuity, from the date of withdrawal, as follows:
1. Present employee and future entrant with 20 or more years of
service - Age and service annuity provided from the total sum accumulated
to his credit from employee contributions and county contributions for
such annuity, and, for a present employee, prior service annuity from
the total sum accumulated to his credit for such annuity.
2. Present employee and future entrant with 10 or more but less than
20 years of service - Age and service annuity provided from the total sum
accumulated to his credit for such annuity from employee contributions,
plus 1/10 of the corresponding credits accumulated for such annuity from
county contributions for each year of service after the first 10 years;
and, in addition in the case of a present employee, the total sum
accumulated to his credit for prior service annuity on account of
employee contributions to any county pension fund in operation in the
county on the effective date, and 1/10 of prior service annuity
accumulated to his credit under "The 1925 Act" and this Article, for
each year of service after the first 10 years.
Any such annuity shall be computed as of the employee's age on the
date of withdrawal.
(Source: P.A. 85-964.)