Chapter 40, PENSIONS

(40 ILCS 5/15-186.1) (from Ch. 108 1/2, par. 15-186.1) Sec. 15-186.1. Mistake in benefit calculation and overpayment recovery. (a) Mistake in benefit calculation. If the System mistakenly sets any benefit at an incorrect amount, it shall recalculate the benefit as soon as may be …

(40 ILCS 5/15-187) (from Ch. 108 1/2, par. 15-187) Sec. 15-187. Felony conviction. None of the benefits provided under this Article shall be paid to any person who is convicted of any felony relating to or arising out of or in connection with a person's service as an employee fro…

(40 ILCS 5/15-188) (from Ch. 108 1/2, par. 15-188) Sec. 15-188. Administrative review. The Administrative Review Law, and all amendments and modifications thereof, and the rules adopted pursuant thereto, shall apply to and govern all proceedings for the judicial review of final a…

(40 ILCS 5/15-189) (from Ch. 108 1/2, par. 15-189) Sec. 15-189. No monetary gain on investments. Except as otherwise herein provided, no member or employee of the board shall have any direct interest in the income, gains or profits of any investments made by the board, or receive…

(40 ILCS 5/15-190) (from Ch. 108 1/2, par. 15-190) Sec. 15-190. Persons under legal disability. If a person is under legal disability when any right or privilege accrues to him or her under this Article, a guardian may be appointed pursuant to law, and may, on behalf of such pers…

(40 ILCS 5/15-191) (from Ch. 108 1/2, par. 15-191) Sec. 15-191. Payment of benefits to minors. If any benefits under this Article become payable to a minor, the board may make payment (1) directly to the minor, (2) to any person who has legally qualified and is acting as guardian…

(40 ILCS 5/15-192) (from Ch. 108 1/2, par. 15-192) Sec. 15-192. Retirement Systems Reciprocal Act. The "Retirement Systems Reciprocal Act", being Article 20 of this Code as now enacted and hereafter amended, is hereby adopted and shall apply to and govern the operations of this s…

(40 ILCS 5/15-193) (from Ch. 108 1/2, par. 15-193) Sec. 15-193. Reinsurance. The board may at any time that it appears desirable and advantageous, contract with any recognized and solvent legal reserve life insurance company for the payment of any benefits specified in this Artic…

(40 ILCS 5/15-196) (from Ch. 108 1/2, par. 15-196) Sec. 15-196. General provisions and savings clause. The provisions of Article 1 and Article 23 of this Code apply to this Article as though such provisions were fully set forth in this Article as a part thereof. (Source: Laws 196…

(40 ILCS 5/15-197) (from Ch. 108 1/2, par. 15-197) Sec. 15-197. Savings Clause. The repeal or amendment of any Section or provision of this Article by this amendatory Act of 1984 shall not affect or impair any pension, benefits, rights or credits accrued or in effect prior theret…

(40 ILCS 5/15-198) Sec. 15-198. Application and expiration of new benefit increases. (a) As used in this Section, "new benefit increase" means an increase in the amount of any benefit provided under this Article, or an expansion of the conditions of eligibility for any benefit un…

(40 ILCS 5/15-202) Sec. 15-202. Optional deferred compensation plan. (a) As soon as practicable after August 10, 2018 (the effective date of Public Act 100-769), the System shall offer a deferred compensation plan that is eligible under Section 457(b) of the Internal Revenue Code…

(40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101) Sec. 16-101. Creation of system. Effective July 1, 1939, there is created the "Teachers' Retirement System of the State of Illinois" for the purpose of providing retirement annuities and other benefits for teachers, annuitants an…

(40 ILCS 5/16-102) (from Ch. 108 1/2, par. 16-102) Sec. 16-102. Application of Article. This Article shall not apply to cities and school districts of more than 500,000 population as shown by the last preceding Federal census. (Source: P.A. 83-1440.)

(40 ILCS 5/16-103) (from Ch. 108 1/2, par. 16-103) Sec. 16-103. Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 16-104 through 16-122.1, except when the context otherwise requires. (Source: P.A. 83-1440.)

(40 ILCS 5/16-104) (from Ch. 108 1/2, par. 16-104) Sec. 16-104. Retirement system or system. "Retirement system" or "system": The Teachers' Retirement System of the State of Illinois. (Source: Laws 1963, p. 161.)

(40 ILCS 5/16-105) (from Ch. 108 1/2, par. 16-105) Sec. 16-105. Board. "Board": The board of trustees of the retirement system created under this Article. (Source: P.A. 83-1440.)

(40 ILCS 5/16-106) (from Ch. 108 1/2, par. 16-106) Sec. 16-106. Teacher. "Teacher": The following individuals, provided that, for employment prior to July 1, 1990, they are employed on a full-time basis, or if not full-time, on a permanent and continuous basis in a position in wh…

(40 ILCS 5/16-106.1) (from Ch. 108 1/2, par. 16-106.1) Sec. 16-106.1. Full-time teacher. "Full-time teacher": Any teacher employed 4 or more clock hours per day, 5 days per week. (Source: P.A. 86-273.)

(40 ILCS 5/16-106.2) (from Ch. 108 1/2, par. 16-106.2) Sec. 16-106.2. Part-time teacher. "Part-time teacher": Any teacher employed less than 4 clock hours per day or less than 5 days per week. (Source: P.A. 86-273.)

(40 ILCS 5/16-106.3) (from Ch. 108 1/2, par. 16-106.3) Sec. 16-106.3. Substitute teacher. "Substitute teacher": Any teacher employed on a temporary basis to replace another teacher. "Substitute teacher" does not include an individual employed by an entity that provides substitute…

(40 ILCS 5/16-106.41) Sec. 16-106.41. Tier 1 member. "Tier 1 member": A member under this Article who first became a member or participant before January 1, 2011 under any reciprocal retirement system or pension fund established under this Code other than a retirement system or p…

(40 ILCS 5/16-106.6) Sec. 16-106.6. Teacher certification. For purposes of this Article, a teacher shall be deemed to be certificated if he or she is required to be licensed by the Illinois State Board of Education. (Source: P.A. 98-92, eff. 7-16-13.)

(40 ILCS 5/16-107) (from Ch. 108 1/2, par. 16-107) Sec. 16-107. Member. "Member": any teacher included in the membership of this system during such membership. (Source: Laws 1963, p. 161.)

(40 ILCS 5/16-108) (from Ch. 108 1/2, par. 16-108) Sec. 16-108. Prior service. "Prior service": Service rendered prior to July 1, 1939. (Source: Laws 1963, p. 161.)

(40 ILCS 5/16-109) (from Ch. 108 1/2, par. 16-109) Sec. 16-109. Membership service. "Membership service": Service rendered on and after July 1, 1939. (Source: Laws 1963, p. 161.)

(40 ILCS 5/16-110) (from Ch. 108 1/2, par. 16-110) Sec. 16-110. Creditable service. "Creditable service": The total of prior service and membership service for which credit is allowed under this Article. (Source: Laws 1963, p. 161.)

(40 ILCS 5/16-111) (from Ch. 108 1/2, par. 16-111) Sec. 16-111. Beneficiary. "Beneficiary": Any person, organization or other entity designated in writing to receive or any person receiving a survivor benefit or reversionary annuity provided by this system or granted under any su…

(40 ILCS 5/16-111.1) (from Ch. 108 1/2, par. 16-111.1) Sec. 16-111.1. Annuitant. "Annuitant": Any person retired on a retirement annuity or disability retirement annuity under this system or any superseded retirement fund or system. (Source: P.A. 83-1440.)

(40 ILCS 5/16-112) (from Ch. 108 1/2, par. 16-112) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 16-112. Regular interest. "Regular interest": (a) For computations based upon prior service credits, interest at the following rate…

(40 ILCS 5/16-113) (from Ch. 108 1/2, par. 16-113) Sec. 16-113. Accumulated contributions. "Accumulated contributions": The sum of all contributions to this System made by or on behalf of a member in respect to membership service and credited to his or her account in the Benefit …

(40 ILCS 5/16-114) (from Ch. 108 1/2, par. 16-114) Sec. 16-114. Annuity. "Annuity": A series of monthly payments. (Source: P.A. 83-1440.)

(40 ILCS 5/16-118) (from Ch. 108 1/2, par. 16-118) Sec. 16-118. Retirement. "Retirement": Entry upon a retirement annuity or receipt of a single-sum retirement benefit granted under this Article after termination of active service as a teacher. (a) An annuitant receiving a retire…

(40 ILCS 5/16-121) (from Ch. 108 1/2, par. 16-121) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 16-121. Salary. "Salary": The actual compensation received by a teacher during any school year and recognized by the system in acco…

(40 ILCS 5/16-122) (from Ch. 108 1/2, par. 16-122) Sec. 16-122. Actuarial equivalent. "Actuarial equivalent": A benefit or sum of equal value to another benefit or sum when computed on the basis of mortality tables and interest rates adopted by the board. (Source: P.A. 83-1440.)…

(40 ILCS 5/16-122.1) (from Ch. 108 1/2, par. 16-122.1) Sec. 16-122.1. School term. "School term": The period specified under Section 24-1 of the School Code. (Source: P.A. 83-1440.)

(40 ILCS 5/16-123) (from Ch. 108 1/2, par. 16-123) Sec. 16-123. Membership of System. (a) The membership of this System shall be composed of all teachers employed after June 30, 1939 who become members as a condition of employment on the date they become teachers. Membership shal…

(40 ILCS 5/16-125) (from Ch. 108 1/2, par. 16-125) Sec. 16-125. Creditable service - statement of services. A member claiming service credit shall file a detailed statement covering the period for which credit is claimed. As soon as practicable after the filing of a statement of …

(40 ILCS 5/16-127) (from Ch. 108 1/2, par. 16-127) Sec. 16-127. Computation of creditable service. (a) Each member shall receive regular credit for all service as a teacher from the date membership begins, for which satisfactory evidence is supplied and all contributions have bee…

(40 ILCS 5/16-128) (from Ch. 108 1/2, par. 16-128) (Text of Section before amendment by P.A. 104-749) Sec. 16-128. Creditable service - required contributions. (a) In order to receive the creditable service specified under subsection (b) of Section 16-127, a member is required to…

(40 ILCS 5/16-129.1) Sec. 16-129.1. Optional increase in retirement annuity. (a) A member of the System may qualify for the augmented rate under subdivision (a)(B)(1) of Section 16-133 for all years of creditable service earned before July 1, 1998 by making the optional contribut…

(40 ILCS 5/16-130) (from Ch. 108 1/2, par. 16-130) Sec. 16-130. Creditable service - whole or portion of year. (a) Except as provided in paragraph (6) of subsection (b) of Section 16-127, only one year of service is creditable for all service in any one school year. (b) For emplo…

(40 ILCS 5/16-130.1) (from Ch. 108 1/2, par. 16-130.1) Sec. 16-130.1. Any active member of the Judges Retirement System may apply for transfer of his credits and creditable service accumulated under this System to the Judges Retirement System. Such creditable service shall be tra…

(40 ILCS 5/16-131.1) (from Ch. 108 1/2, par. 16-131.1) Sec. 16-131.1. Transfer of creditable service to the General Assembly Retirement System. (a) An active member of the General Assembly Retirement System, and until May 1, 1993, any person having service credit therein, may app…

(40 ILCS 5/16-131.2) (from Ch. 108 1/2, par. 16-131.2) Sec. 16-131.2. Validation of service credits. An active member of the General Assembly having no creditable service in the system, may establish creditable service for periods during which he or she was in an elective office …

(40 ILCS 5/16-131.3) (from Ch. 108 1/2, par. 16-131.3) Sec. 16-131.3. Transfer of creditable service to Article 8, 9 or 13 fund. (a) Any city officer as defined in Section 8-243.2 of this Code, any county officer elected by vote of the people who is a participant in the pension f…

(40 ILCS 5/16-131.4) (from Ch. 108 1/2, par. 16-131.4) Sec. 16-131.4. (a) Until July 1, 1989, any county sheriff who is a participant in the pension fund established under Article 7 of this Act may apply for transfer of up to 102 months of his or her contributions and creditable …

(40 ILCS 5/16-131.5) (from Ch. 108 1/2, par. 16-131.5) Sec. 16-131.5. (a) Persons otherwise required or eligible to participate in this System who elect to continue participation in the General Assembly System under Section 2-117.1 may not participate in this System for the durat…

(40 ILCS 5/16-131.6) (from Ch. 108 1/2, par. 16-131.6) Sec. 16-131.6. Transfer to Article 14. (a) Any active member of the State Employees' Retirement System of Illinois may apply for transfer to that System of credits and creditable service accumulated under this System for serv…

(40 ILCS 5/16-132) (from Ch. 108 1/2, par. 16-132) (Text of Section from P.A. 103-8) Sec. 16-132. Retirement annuity eligibility. A member who has at least 20 years of creditable service is entitled to a retirement annuity upon or after attainment of age 55. A member who has at l…