(40 ILCS 5/18-113) (from Ch. 108 1/2, par. 18-113)
Sec. 18-113.
Annuity.
"Annuity": A series of monthly payments payable at the end of each
calendar month during the life of an annuitant or as otherwise provided
in this Article. The first payment shall be
prorated for any fraction of a month elapsing to the end of the first
month and the last payment shall be made for the whole calendar
month in which death occurs.
(Source: P.A. 83-1440.)
|