(40 ILCS 5/17-154) (from Ch. 108 1/2, par. 17-154)
Sec. 17-154. Retired teachers supplementary payments. All persons who were
on June 30, 1975, entitled to a service retirement
pension or disability retirement pension, under this Fund or any
fund of
which this Fund is a continuation, and who meet the conditions
prescribed
hereinafter, shall receive supplementary payments as follows:
(1) In the case of any such retired person, who attained or shall attain
after June 30, 1975, the age of 60 years, who was in receipt of a service
retirement pension, the payment pursuant to this section shall be an amount
equal to the difference between (a) his annual service retirement pension
from the Fund plus any annual payment received under the
provisions of
Section 34-87 (now repealed) of "The School Code", approved March 18, 1961, as amended,
if the total of such amounts is less than $4500 per year, and (b) an amount
equal to $100 for each year of validated teaching service forming the basis
of the service retirement pension up to a maximum of 45 years of such
service;
(2) In the case of any such retired person, who was in receipt on June
30, 1975, of a disability retirement pension, the payment shall be equal
to the difference between (a) his total annual disability retirement pension
and (b) an amount equal to $100 for each year of validated teaching service
forming the basis of the disability retirement pension.
(Source: P.A. 94-1105, eff. 6-1-07.)
|