(40 ILCS 5/2-123)
(from Ch. 108 1/2, par. 2-123)
(a) A participant who ceases to be a member, other than an annuitant, shall,
upon written request, receive a refund of his or her total contributions,
without interest. The refund shall include the additional contributions for
the automatic increase in retirement annuity. By accepting the refund, a
participant forfeits all accrued rights and benefits in the System and loses
credit for all service. However, if he or she again becomes a member, he or
she may resume status as a participant and reestablish any forfeited service
credit by paying to the System the full amount refunded, together with interest
at 4% per annum from the time the refund is paid to the date the member again
becomes a participant.
A former member of the General Assembly may reestablish any service
credit forfeited by acceptance of a refund by paying to the System on or
before February 1, 1993, the full amount refunded, together with interest at
4% per annum from the date of payment of the refund to the date of repayment.
When a member or former member owes money to the System, interest at
the rate of 4% per annum shall accrue and be payable on such amounts owed
beginning on the date of termination of service as a member until the
contributions due have been paid in full.
(b) A participant who (1) has elected to cease making contributions for
survivor's annuity under subsection (b) of Section 2-126, (2) has no eligible
survivor's annuity beneficiary upon becoming an annuitant,
or (3) terminates service with less than 8 years of service is
entitled to a refund of the contributions for a survivor's annuity, without
interest. If the person later marries, a survivor's annuity shall
not be payable upon his or her death, unless the amount of the
refund is repaid to the System, together with interest at the rate of 4% per
year from the date of refund to the date of repayment.
(c) If at the date of retirement or death of a participant who
served as an officer of the General Assembly, the total period of
such service is less than 4 years, the additional contributions made
by such member on the additional salary as an officer shall be refunded
unless the participant served as an officer for at least 2 years and has
contributed the amount he or she would have contributed if he or she had
served as an officer for 4 years as provided in Section 2-126.
(d) Upon the termination of the last survivor's annuity payable to a
survivor of a deceased participant, the excess, if any, of the total
contributions made by the participant for retirement and survivor's annuity,
without interest, over the total amount of retirement and survivor's annuity
payments received by the participant and the participant's survivors shall be
refunded upon request:
(i) if there was a surviving spouse of the deceased
(e) Upon the death of a participant, if a survivor's annuity is not
payable under this Article, a beneficiary designated by the participant
shall be entitled to a refund of all contributions made by the participant.
If the participant has not designated a refund beneficiary, the surviving
spouse shall be entitled to the refund of contributions; if there is no
surviving spouse, the contributions shall be refunded to
the participant's surviving children, if any, and if no children
survive, the refund payment shall be made to the participant's estate.
(Source: P.A. 90-448, eff. 8-16-97; 90-766, eff. 8-14-98.)