40 ILCS 5/6-121
Present employees - Age 57 in service - Amount of annuity
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(40 ILCS 5/6-121)
(from Ch. 108 1/2, par. 6-121)
Sec. 6-121.
Present employees - Age 57 in service - Amount of annuity.
(a) A present employee, who attains age 57 or more while in service,
having credit from sums accumulated for age and service annuity and
prior service annuity sufficient to provide annuity as of his age at
such time equal to that to which he would have had a right if
employee contributions and city
contributions had been made in accordance with
this Article during his entire period of service until he attained age
57, is entitled to an age and service annuity and prior service annuity
from the date he withdraws from service, fixed as of his age on the date
when he has to his credit such sums; such annuities shall be the amounts
provided from the entire sum accumulated to his credit for age and
service annuity and prior service annuity purposes on such date of
fixing.
(b) A present employee who attains age 57 or more while in service
and who has not to his credit for age and service annuity and prior
service annuity the amount described in paragraph (a) above, is entitled
on the date of his withdrawal to an age and service annuity and prior
service annuity fixed as of his age on the date of withdrawal of the
amount provided from the entire sum accumulated to his credit for age
and service annuity and prior service annuity on such date of
withdrawal.
(Source: P.A. 81-1536.)
Notes of Decisions
Cited in 2
cases, 1993–1993 · leading case: Collins v. BOARD OF TRUSTEES, FIREMEN'S ANNUITY & BEN. FUND OF CHICAGO
Collins v. BOARD OF TRUSTEES, FIREMEN'S ANNUITY & BEN. FUND OF CHICAGO (1993)
“" (40 ILCS 5/6-121, 6-125, 6-126 (West 1992).”
Collins v. Board of Trustees of the Firemen's Annuity & Benefit Fund (1993)
“) Subject to a minimum annuity (40 ILCS 5/6 — 123, 6 — 128 (West 1992)), an employee receives his retirement annuity from such amounts accumulated specifically to his individual credit (40 ILCS 5/6-121, 6-125, 6-126 (West 1992)).”
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