(40 ILCS 5/20-106) (from Ch. 108 1/2, par. 20-106)
(Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional)
Sec. 20-106. Final average salary.
(a) "Final average salary": The average (or other) salary which is
considered by a participating system in determining the amount of the
retirement annuity or survivor's annuity.
(b) Earnings credits under all participating systems shall be
considered by each system in determining final average salary, but subject to the limitations imposed by this amendatory Act of the 98th General Assembly for a participant in a defined contribution plan established under Article 2, 14, 15, or 16 of this Code. In
calculating a proportional retirement or survivor's annuity based on these
earnings credits, the participating system shall apply any limitations on
earnings for annuity purposes that are imposed by the Article governing the
system.
(Source: P.A. 98-599, eff. 6-1-14.) (Text of Section WITHOUT the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 20-106.
Final average salary.
(a) "Final average salary": The average (or other) salary which is
considered by a participating system in determining the amount of the
retirement annuity or survivor's annuity.
(b) Earnings credits under all participating systems shall be
considered by each system in determining final average salary. In
calculating a proportional retirement or survivor's annuity based on these
earnings credits, the participating system shall apply any limitations on
earnings for annuity purposes that are imposed by the Article governing the
system.
(Source: P.A. 88-593, eff. 8-22-94.)
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