(40 ILCS 5/15-142)
(from Ch. 108 1/2, par. 15-142)
Death benefits - Death of annuitant.
Upon the death of
an annuitant receiving a retirement annuity or disability retirement annuity,
the annuitant's beneficiary shall, if a survivor's insurance benefit is
not payable under Section 15-145 and an
annuity is not payable under Section 15-136.4, be entitled to a death benefit
equal to the greater of the following: (1) the excess, if any, of the sum of
the accumulated normal, survivors insurance, and additional contributions
as of the date of retirement or the date the disability retirement annuity
began, whichever is earlier, over the sum of all annuity payments made prior to
the date of death, or (2) $1,000.
(Source: P.A. 90-448, eff. 8-16-97; 90-766, eff. 8-14-98; 91-887, eff. 7-6-00.)