(40 ILCS 5/11-130)
(from Ch. 108 1/2, par. 11-130)
Annuities - Present employees and future
entrants - Withdrawal after age 55 and prior to 60.
An employee who attains age 55 or more but less than age 60 in
service having 10 or more years of service at date of withdrawal 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 city 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 accumulation for such annuity
from city contributions
for each year of service after the first 10 years and in addition, in
the case of a present employee, 1/10 of the prior service annuity
accumulated to his credit under "The 1935 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. 81-1536.)