Chapter 40, PENSIONS

(40 ILCS 5/16-133) (from Ch. 108 1/2, par. 16-133) Sec. 16-133. Retirement annuity; amount. (a) The amount of the retirement annuity shall be (i) in the case of a person who first became a teacher under this Article before July 1, 2005, the larger of the amounts determined under …

(40 ILCS 5/16-133.1) (from Ch. 108 1/2, par. 16-133.1) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 16-133.1. Automatic annual increase in annuity. (a) This subsection (a) is subject to subsections (a-1) and (a-2). Each member …

(40 ILCS 5/16-133.2) (from Ch. 108 1/2, par. 16-133.2) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 16-133.2. Early retirement without discount. (a) A member retiring after June 1, 1980 and on or before June 30, 2005 (or as pro…

(40 ILCS 5/16-133.3) (from Ch. 108 1/2, par. 16-133.3) Sec. 16-133.3. Early retirement incentives for State employees. (a) To be eligible for the benefits provided in this Section, a person must: (1) be a member of this System who, on any day during June, 2002, is (i) in active p…

(40 ILCS 5/16-133.4) (from Ch. 108 1/2, par. 16-133.4) Sec. 16-133.4. Early retirement incentives for teachers. (a) To be eligible for the benefits provided in this Section, a member must: (1) be a member of this System who, on or after May 1, 1993, is (i) in active payroll statu…

(40 ILCS 5/16-133.5) (from Ch. 108 1/2, par. 16-133.5) Sec. 16-133.5. Early retirement incentives for teachers. (a) To be eligible for the benefits provided in this Section, a member must: (1) be a member of this System who, on or after May 1, 1994, is (i) in active payroll statu…

(40 ILCS 5/16-134) (from Ch. 108 1/2, par. 16-134) Sec. 16-134. Additional retirement annuity. (a) An annuitant receiving a retirement annuity on June 30, 1947 who has at least 25 years of creditable service shall upon attaining age 60 or thereafter have his or her annual retirem…

(40 ILCS 5/16-135) (from Ch. 108 1/2, par. 16-135) Sec. 16-135. Supplementary retirement annuity. (a) An annuitant who is receiving a retirement annuity on June 30, 1961 of less than $50 for each year of creditable service forming the basis of the retirement annuity shall have hi…

(40 ILCS 5/16-136) (from Ch. 108 1/2, par. 16-136) Sec. 16-136. Reversionary annuity. A member entitled to a retirement annuity may elect at the time of retirement to receive a reduced retirement annuity and provide with the actuarial value of the reduction, determined on an actu…

(40 ILCS 5/16-136.1) (from Ch. 108 1/2, par. 16-136.1) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 16-136.1. Annual increase for certain annuitants. (a) Any annuitant receiving a retirement annuity on June 30, 1969 and any mem…

(40 ILCS 5/16-136.2) (from Ch. 108 1/2, par. 16-136.2) Sec. 16-136.2. Minimum retirement annuity. (a) Any annuitant receiving a retirement annuity under this Article is entitled to such additional amount of retirement annuity under this Section, if necessary, that is sufficient t…

(40 ILCS 5/16-136.3) (from Ch. 108 1/2, par. 16-136.3) Sec. 16-136.3. Alternate minimum retirement annuity. (a) Any member retiring with at least 10 years of creditable service on or before December 31, 1983 is entitled to such additional amount of retirement annuity under this S…

(40 ILCS 5/16-136.4) (from Ch. 108 1/2, par. 16-136.4) Sec. 16-136.4. Single-sum retirement benefit. (a) A member who has less than 5 years of creditable service shall be entitled, upon written application to the board, to receive a retirement benefit payable in a single sum upon…

(40 ILCS 5/16-138) (from Ch. 108 1/2, par. 16-138) Sec. 16-138. Refund of contributions upon death of member or annuitant. Upon the death of a member or annuitant, the following amount shall be payable (i) to a beneficiary nominated by written designation of the member or annuita…

(40 ILCS 5/16-140) (from Ch. 108 1/2, par. 16-140) Sec. 16-140. Survivors' benefits - definitions. (a) For the purpose of Sections 16-138 through 16-143.2, the following terms shall have the following meanings, unless the context otherwise requires: (1) "Average salary": the aver…

(40 ILCS 5/16-141) (from Ch. 108 1/2, par. 16-141) Sec. 16-141. Survivors' benefits - death in service. (a) Upon the death of a member in service occurring on or after July 1, 1990, a beneficiary designated by the member shall be entitled to receive, in a single sum, for each com…

(40 ILCS 5/16-142) (from Ch. 108 1/2, par. 16-142) Sec. 16-142. Survivors' benefits - death out of service. The following benefit shall be payable to the survivors of an annuitant or to the survivors of a member whose death occurs after termination of service for any cause if on …

(40 ILCS 5/16-142.1) (from Ch. 108 1/2, par. 16-142.1) Sec. 16-142.1. Survivors' benefits - minimum amounts. (a) The minimum survivor's benefit for any one beneficiary shall be the lesser of (1) $30 per month, or (2) 80% of the retirement annuity for which the member would have b…

(40 ILCS 5/16-142.2) (from Ch. 108 1/2, par. 16-142.2) Sec. 16-142.2. Survivors' benefits - maximum amounts. (a) When the death of a member or annuitant occurs after August 21, 1981, the following maximum limitations shall apply in the determination of the survivor's benefits pay…

(40 ILCS 5/16-142.3) (from Ch. 108 1/2, par. 16-142.3) Sec. 16-142.3. Required distributions. (a) A person who would be eligible to receive a monthly survivor benefit under this Article but for the fact that the person has not yet attained age 50, and who has not elected to recei…

(40 ILCS 5/16-143) (from Ch. 108 1/2, par. 16-143) Sec. 16-143. Survivors' benefits - other conditions and limitations. The benefits provided under Sections 16-141 and 16-142, shall be subject to the following further conditions and limitations: (1) The period during which a memb…

(40 ILCS 5/16-143.1) (from Ch. 108 1/2, par. 16-143.1) Sec. 16-143.1. Increase in survivor benefits. (a) Beginning January 1, 1990, each survivor's benefit and each reversionary annuity payable under Section 16-136 shall be increased by 3% of the currently payable amount thereof …

(40 ILCS 5/16-143.2) (from Ch. 108 1/2, par. 16-143.2) Sec. 16-143.2. Refund of contributions for survivor benefits at retirement. (a) If at the time of applying for a retirement annuity under Section 16-132, or while in receipt of such a retirement annuity, a member does not hav…

(40 ILCS 5/16-149) (from Ch. 108 1/2, par. 16-149) Sec. 16-149. Disability benefit. (a) A disability benefit is payable to a member who was in active service on or after June 30, 1977 and has at least 3 years of creditable service. Part-time and substitute teachers who are in act…

(40 ILCS 5/16-149.1) (from Ch. 108 1/2, par. 16-149.1) Sec. 16-149.1. Occupational disability benefit. (a) A member who becomes totally and immediately incapacitated for duty as the proximate result of bodily injuries sustained or a hazard undergone while in the performance and w…

(40 ILCS 5/16-149.2) (from Ch. 108 1/2, par. 16-149.2) Sec. 16-149.2. Disability retirement annuity. (a) A member whose disability benefit has been terminated under the provisions of Section 16-149 may be retired on a disability retirement annuity payable effective the day follow…

(40 ILCS 5/16-149.3) (from Ch. 108 1/2, par. 16-149.3) Sec. 16-149.3. Increase in disability retirement annuity. An annuitant who retired on account of disability prior to July 22, 1947 may have the amount of his annual disability retirement annuity increased to $400 upon contrib…

(40 ILCS 5/16-149.4) (from Ch. 108 1/2, par. 16-149.4) Sec. 16-149.4. Supplementary disability retirement annuity. (a) An annuitant receiving a disability retirement annuity on June 30, 1961 of less than $50 for each year of creditable service forming the basis of the disability …

(40 ILCS 5/16-149.5) (from Ch. 108 1/2, par. 16-149.5) Sec. 16-149.5. Automatic increase in disability benefit. Each disability benefit payable under Section 16-149, 16-149.1 or 16-149.2 shall be increased by 7% of the original fixed amount of such benefit on January 1, 1991 or J…

(40 ILCS 5/16-149.6) Sec. 16-149.6. Limited employment during disability. (a) A teacher who (i) has been receiving a disability, occupational disability, or disability retirement benefit under Section 16-149, 16-149.1, or 16-149.2 for at least one year and (ii) remains unable to …

(40 ILCS 5/16-150) (from Ch. 108 1/2, par. 16-150) Sec. 16-150. Re-entry. (a) This Section does not apply to an annuitant who returns to teaching under the program established in Section 16-150.1, for the duration of his or her participation in that program. (b) If an annuitant u…

(40 ILCS 5/16-150.1) Sec. 16-150.1. Return to teaching in subject shortage area. (a) As used in this Section, "eligible employment" means employment beginning on or after July 1, 2003 and ending no later than June 30, 2027, in a subject shortage area at a qualified school, in a p…

(40 ILCS 5/16-151) (from Ch. 108 1/2, par. 16-151) Sec. 16-151. Refund. Upon termination of employment as a teacher for any cause other than death or retirement, a member shall be paid the following amount upon demand made at least 4 months after ceasing to teach: (1) from the Be…

(40 ILCS 5/16-152) (from Ch. 108 1/2, par. 16-152) (Text of Section WITH the changes made by P.A. 98-599, which has been held unconstitutional) Sec. 16-152. Contributions by members. (a) Except as provided in subsection (a-5), each member shall make contributions for membership s…

(40 ILCS 5/16-152.1) (from Ch. 108 1/2, par. 16-152.1) Sec. 16-152.1. Pickup of contributions. (a) Each employer may pick up the member contributions required under Section 16-152 for all salary earned after December 31, 1981. If an employer decides not to pick up the member cont…

(40 ILCS 5/16-152.5) (This Section was added by P.A. 98-599, which has been held unconstitutional) Sec. 16-152.5. Use of contributions for health care subsidies. The System shall not use any contribution received by the System under this Article to provide a subsidy for the cost …

(40 ILCS 5/16-153.5) Sec. 16-153.5. Election of medicare coverage. (a) The System shall conduct a divided medicare coverage referendum, open to teachers continuously employed by the same employer since March 31, 1986. The referendum shall be conducted in accordance with the appli…

(40 ILCS 5/16-154) (from Ch. 108 1/2, par. 16-154) Sec. 16-154. Deductions from salary. (a) Required contributions. The governing body of each school district and of each employing unit coming under this System, and the State Comptroller or other State officer certifying payroll …

(40 ILCS 5/16-155) (from Ch. 108 1/2, par. 16-155) Sec. 16-155. Report to system and payment of deductions. (a) The employer shall submit to the System all required reports and contributions for salary paid during any month by the 10th of the following month. Additionally, all re…

(40 ILCS 5/16-157) (from Ch. 108 1/2, par. 16-157) Sec. 16-157. Consent to deductions - discharge of claims. Every member is deemed to have consented to the contributions required under this Article. Payment of salary or compensation less the required contribution shall be a comp…

(40 ILCS 5/16-158) (from Ch. 108 1/2, par. 16-158) Sec. 16-158. Contributions by State and other employing units. (a) The State shall make contributions to the System by means of appropriations from the Common School Fund and other State funds of amounts which, together with othe…

(40 ILCS 5/16-158.1) (from Ch. 108 1/2, par. 16-158.1) Sec. 16-158.1. Actions to enforce payments by school districts and other employing units. Any school district or other employing unit failing to transmit to the System contributions required of it under this Article or contri…

(40 ILCS 5/16-158.2) (This Section was added by P.A. 98-599, which has been held unconstitutional) Sec. 16-158.2. Obligations of State; funding guarantee. (a) Beginning July 1, 2014, the State shall be obligated to contribute to the System in each State fiscal year an amount not …

(40 ILCS 5/16-158.3) Sec. 16-158.3. Individual employer accounts. (a) The System shall create and maintain an individual account for each employer for the purposes of determining employer contributions under subsection (b-4) of Section 16-158. Each employer's account shall be not…

(40 ILCS 5/16-163) (from Ch. 108 1/2, par. 16-163) Sec. 16-163. Board created. A board of 15 members constitutes the board of trustees authorized to carry out the provisions of this Article and is responsible for the general administration of the System. The board shall be known …

(40 ILCS 5/16-164) (from Ch. 108 1/2, par. 16-164) Sec. 16-164. Board; appointed members; vacancies. Terms of office for the appointed members shall begin on July 15 of an even-numbered year, except that the terms of office for members appointed pursuant to this amendatory Act of…

(40 ILCS 5/16-165) (from Ch. 108 1/2, par. 16-165) Sec. 16-165. Board; elected members; vacancies. (a) In each odd-numbered year, if there are 2 teachers whose terms of office will expire in that year, there shall be elected 2 teachers who shall hold office for a term of 4 years …

(40 ILCS 5/16-166) (from Ch. 108 1/2, par. 16-166) Sec. 16-166. Board - oath of office. Each trustee, prior to assuming office, shall take and subscribe to an oath that he or she will diligently and honestly administer the affairs of the board, and that he or she will not knowing…

(40 ILCS 5/16-167) (from Ch. 108 1/2, par. 16-167) Sec. 16-167. Board - compensation and expenses. The trustees shall serve without compensation, but shall be reimbursed for all necessary expenses. (Source: P.A. 83-1440.)

(40 ILCS 5/16-168) (from Ch. 108 1/2, par. 16-168) Sec. 16-168. Board - meeting - rules - voting. The board shall meet regularly at least 4 times a year at such time as it may by by-laws provide, or at the call of the president or of a majority of the members. The board may adopt…