Ill. Admin. Code tit. 80 § 1540.125

Current through Register Vol. 48, No. 45, November 8, 2024

Section 1540.125 - Reversionary Annuity

a) The reversionary annuity of a member who elects a reversionary annuity, who accepts the provisions of Article 20 of the Code, and who cashes or deposits the payment of a proportional annuity from another participating system prior to the date in which he or she is eligible to begin receiving retirement annuity payments from Article 14 of the Code, shall begin on the first day of the month following the member's death.

b) Definitions

"Participating System" means a retirement system defined as a "participating system" by Section 20-108 of the Code.

"Proportional Annuity" means a retirement annuity paid in accordance with Section 20-121 of the Code.

Ill. Admin. Code tit. 80, § 1540.125

Added at 44 Ill. Reg. 7888, effective 4/27/2020