Ill. Admin. Code tit. 80 § 1600.650

Current through Register Vol. 48, No. 52, December 27, 2024

Section 1600.650 - Automatic Annual Increases

a) The alternate payee will or will not receive a proportionate share of any automatic annual increase in the member's retirement benefit under Section 15-136 of the Pension Code, according to the designation in the QILDRO.

b) Except as provided in subsection (c) of this Section, the initial increase in the amount due the alternate payee under the QILDRO is payable with the next succeeding increase in the member's retirement benefit after the date the QILDRO first took effect.

c) If the QILDRO first takes effect in the same month the member's retirement benefit is increased, the alternate payee's initial increase is not payable until the next increase in the member's retirement benefit.

d) SURS will calculate the amount of any increase payable to the alternate payee under the QILDRO.

e) The amount of any increase payable to the alternate payee is the percentage of increase applied to the member's retirement benefit under Section 15-136 of the Pension Code, multiplied by the alternate payee's monthly benefit as of the date of the increase.

Ill. Admin. Code tit. 80, § 1600.650

Amended at 33 Ill. Reg. 10757, effective July 1, 2009