ARTICLE 12. PARK EMPLOYEES' AND RETIREMENT BOARD EMPLOYEES' ANNUITY AND
BENEFIT FUND‑‑CITIES OVER 500,000
(40 ILCS 5/12‑101)(from Ch. 108 1/2, par. 12‑101) Sec. 12‑101. Creation of fund. In each city of more than 500,000 population, and having a board of park commissioners, under and in pursuance of an Act of the General Assembly, for the purpose of locating, establishing and enclosing, improving or maintaining any public park, boulevard, driveway, or highway or other public work or improvement, an annuity and benefit fund, hereinafter referred to as the "fund", shall be created, maintained, administered and disbursed in the manner described in this Article for the employees of such board as described in "An Act relating to the civil service in park systems", approved June 10, 1911, as amended, including employees in the classified service, and all persons in exempt positions, and employees of the retirement board charged herein with the duty of administering such fund, and for the surviving spouses and children of such employees. It is the intention of this Article that any employee or former employee of a board of park commissioners or of the retirement board, shall be deemed to have been an employee during all time heretofore that the employee shall have been in such service, and that this Article shall be construed to be retroactive in effect. Participation in the fund by any person entering the service of the board of park commissioners or the retirement board shall be effective only upon completion of 6 months of continuous service, except that beginning July 1, 1991, this 6‑month qualification period shall not apply to any person employed in a position requiring service for 6 months or more in a calendar year who would be exempted from mandatory participation in the federal Social Security program by virtue of his participation in the fund. Contributions to the fund shall begin with the payroll period next following that in which the qualification period ends, or if no qualification period is required, upon the commencement of employment. The right to any annuity or benefit shall accrue from the date when such contributions begin. Any employee shall have the right to make contributions for retirement and spouse's annuity purposes for the qualification period prior to membership upon completing 10 years of service or attaining age 60 whichever event first occurs. Any person who entered service for the first time on or before September 16, 1980 at age 60 or over may contribute and receive credit for all service rendered prior to his date of entry into the fund. These contributions shall be based upon the salary and rate of contributions in effect at the date of his entry into the fund, plus regular interest compounded annually from the end of the waiting period to the date the contributions are made, whereupon credit as service for such period shall be granted the employee. The provisions of the "Exchange of Functions Act of 1957", approved July 5, 1957, as heretofore or hereafter amended, to the extent that they apply to and affect the fund herein established, are incorporated into and made a part of this Article by express reference. Employees of a park district, other than park policemen, transferred to the employment of a city pursuant to said Act, if members of the fund herein established, shall remain members of said fund, and their rights, credits and equities therein shall remain unimpaired by such transfer of employment. (Source: P.A. 87‑794.)
(40 ILCS 5/12‑102)(from Ch. 108 1/2, par. 12‑102) Sec. 12‑102. Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 12‑‑103 to 12‑‑126, inclusive, except when the context otherwise requires. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑103)(from Ch. 108 1/2, par. 12‑103) Sec. 12‑103. The 1919 Act. "The 1919 Act": "An Act to provide for the creation, setting apart, formation, administration and disbursement of a park employees' and retirement board employees' annuity and benefit fund", approved June 21, 1919, as amended. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑104)(from Ch. 108 1/2, par. 12‑104) Sec. 12‑104. Exchange of Functions Act of 1957. "Exchange of Functions Act of 1957": "An Act in relation to an exchange of certain functions, property and personnel among cities and park districts having coextensive geographic areas and populations in excess of 500,000", approved July 5, 1957, as amended. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑105)(from Ch. 108 1/2, par. 12‑105) Sec. 12‑105. Retirement board or board. "Retirement board" or "board": The board of trustees of the Park Employees' and Retirement Board Employees' Annuity and Benefit Fund as created and constituted in this Article. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑106)(from Ch. 108 1/2, par. 12‑106) Sec. 12‑106. Actuarial tables. "Actuarial tables": The American Experience Table of Mortality and 4% interest for any present employee or future entrant who was a participant or contributor to the fund on June 30, 1959, and for their widows or other beneficiaries, except as to reserves on annuities for the computation of which the Combined Annuity Mortality Table and 4% interest shall be used, and the Combined Annuity Mortality Table and 4% interest for any future entrant whose first participation in the fund began on or after July 1, 1959, and for his widow or other beneficiaries. All annuities and reserves on annuities, present or prospective, except as may otherwise be provided, shall be computed according to such actuarial tables and regular interest, as herein defined: provided, however, that effective as of July 1, 1979 the actuarial table and rate of interest to be used shall be that adopted by the retirement board upon recommendation of the actuary. (Source: P.A. 81‑698.)
(40 ILCS 5/12‑107)(from Ch. 108 1/2, par. 12‑107) Sec. 12‑107. Reserve. "Reserve": when applied to an annuity means the present value, according to the applicable actuarial tables and rate of interest, of the payments to be made on account of such annuity. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑108)(from Ch. 108 1/2, par. 12‑108) Sec. 12‑108. Highest salary. "Highest salary": The highest rate of salary received by an employee during his total service. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑109)(from Ch. 108 1/2, par. 12‑109) Sec. 12‑109. Service. "Service": Employment by an employer in a position covered by this Article, including (a) actual employment in pay status, (b) periods of approved leaves of absence for which contributions are made by the employee, (c) periods of military service for which credit is granted, and (d) periods for which contribution credits are granted during disability. (Source: P.A. 81‑1536.)
(40 ILCS 5/12‑111)(from Ch. 108 1/2, par. 12‑111) Sec. 12‑111. Withdrawal or withdraws. "Withdrawal" or "withdraws": Resignation, separation or discharge from service as an employee from any position to which a person has civil service status and may be subject to re‑employment in the classified civil service under "An Act relating to the civil service in park systems", approved June 10, 1911, as amended. (Source: Laws 1963, p. 2177.)
(40 ILCS 5/12‑112)(from Ch. 108 1/2, par. 12‑112) Sec. 12‑112. Future entrant. "Future entrant": An employee who entered service after July 1, 1919, or, as applied to an employee of the board, an employee who entered service after July 1, 1937. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑114)(from Ch. 108 1/2, par. 12‑114) Sec. 12‑114. Regular interest. "Regular interest": Interest at the rate prescribed by the Board upon recommendation of the actuary for all employees, spouses or other beneficiaries. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑115)(from Ch. 108 1/2, par. 12‑115) Sec. 12‑115. Present value. "Present value": The amount of funds presently required to provide an annuity or benefit at some future date when computed according to the actuarial tables. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑116)(from Ch. 108 1/2, par. 12‑116) Sec. 12‑116. Fiscal year. "Fiscal year": The year commencing with July 1st and ending with June 30th next following. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑117)(from Ch. 108 1/2, par. 12‑117) Sec. 12‑117. Contributions. "Contributions": Amounts deducted from the salary or amounts otherwise paid by an employee for the purposes of this Article. (Source: P.A. 81‑1536.)
(40 ILCS 5/12‑118)(from Ch. 108 1/2, par. 12‑118) Sec. 12‑118. Employee. "Employee": Any person in the service of a board of park commissioners as described in Section 12‑101, or employees of the board, except (a) any person employed in any position requiring service of less than 90 hours during a monthly period, or, beginning July 1, 1991, in any position requiring service of less than 6 months during a calendar year, unless that person is already a member of the fund, and (b) any employee of a city or district transferred to the employment of a park district by virtue of the Exchange of Functions Act of 1957. (Source: P.A. 86‑272; 87‑794.)
(40 ILCS 5/12‑118.1)(from Ch. 108 1/2, par. 12‑118.1) Sec. 12‑118.1. Employee annuitant. "Employee annuitant": An employee who has withdrawn from service and has been granted a service retirement annuity. (Source: Laws 1965, p. 1936.)
(40 ILCS 5/12‑118.2)(from Ch. 108 1/2, par. 12‑118.2) Sec. 12‑118.2. Gender. The masculine gender whenever used in this Article includes the feminine gender and all annuities and other benefits applicable to male employees and their survivors, and the contributions to be made for widows' annuities or other annuities, benefits, and refunds shall apply with equal force to female employees and their survivors, without any modification or distinction whatsoever. (Source: P. A. 78‑1129.)
(40 ILCS 5/12‑119)(from Ch. 108 1/2, par. 12‑119) Sec. 12‑119. Transferred employee. "Transferred employee": An employee who was transferred to the employment of a city by virtue of "An Act in relation to an exchange of certain functions, property and personnel among cities and park districts having coextensive geographic areas and populations in excess of 500,000", approved July 5, 1957, as amended. A park policeman shall not be included as being a transferred employee within the meaning of this Article. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑120)(from Ch. 108 1/2, par. 12‑120) Sec. 12‑120. Employer. "Employer": Any board of park commissioners referred to in this Article and the retirement board defined in this Article. Effective January 1, 1959, "employer" shall also include any city to which is transferred by virtue of the "Exchange of Functions Act of 1957" the employment of employees of a park district (other than park policemen) who are members of the fund established by "The 1919 Act". (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑121)(from Ch. 108 1/2, par. 12‑121) Sec. 12‑121. Leave of absence. "Leave of absence": Absence from service for a temporary period on permission given by the employer upon written request of the employee. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑122)(from Ch. 108 1/2, par. 12‑122) Sec. 12‑122. Salary. "Salary": (a) The annual salary of any employee whose salary is on a yearly basis; (b) 12 times the amount of the salary per month of an employee whose salary is on a monthly basis; (c) 52 times the amount of the salary per week of an employee whose salary is on a weekly basis; (d) 260 times the amount of the salary per day of an employee whose salary is on a daily basis or 2,080 times the amount of the salary per hour of an employee whose salary is on an hourly basis. The number of days or hours in excess of the maximum prescribed by the employer shall not be considered; (e) the maximum annual salary when arranged on a yearly basis to be considered for contributions and benefits for the various purposes of this Article for the periods specified shall be as follows: July 1, 1919 to June 30, 1921, inclusive, $2,500; July 1, 1921 to July 20, 1947, inclusive, $3,000; July 21, 1947, to June 30, 1951, inclusive, $4,800; July 1, 1951 to June 30, 1957, inclusive, $6,000; July 1, 1957 and thereafter, no maximum limitation; (f) the maximum annual salary where arranged on other than a yearly basis to be considered for contributions and benefits for the various purposes of this Article for the periods prior to the effective date of the formulas specified in paragraph (b), (c) or (d) of this section, shall be computed in accordance with the applicable law in force during such periods. Salary for part‑time employment in positions of a seasonal or part‑time character shall be computed in accordance with the foregoing standards as the same may be applicable for the respective periods of employment under rules established by the board. (Source: P. A. 78‑266.)
(40 ILCS 5/12‑123)(from Ch. 108 1/2, par. 12‑123) Sec. 12‑123. Age. "Age": Age at the latest birthday. In the computation of any retirement annuity, the actuarial factor shall be prorated for the number of days between the employee's last birthday and his age on the effective date of the annuity. (Source: P.A. 86‑272.)
(40 ILCS 5/12‑123.1)(from Ch. 108 1/2, par. 12‑123.1) Sec. 12‑123.1. Surviving spouse. Surviving spouse: The spouse of an active employee on the date of the employee's death; the spouse of an inactive member on the date of separation from park service, unless the member has subsequent service with another pension fund or retirement system under the Retirement Systems Reciprocal Act and elects to receive a retirement annuity calculated under that Act; the spouse of an annuitant on the date of retirement. If the marriage terminates after the inactive member separates from service or the member retires, the former spouse is no longer eligible for benefits as the surviving spouse. The term "widow" means "surviving spouse" for the purposes of this Article. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑124)(from Ch. 108 1/2, par. 12‑124) Sec. 12‑124. Fixation of annuity; limitation on reversionary annuity. "Fixation of annuity": As applied to a service annuity or prior service annuity or a surviving spouse's annuity, the final determination of the annuity at the date of retirement. A reversionary annuity calculated after January 1, 1990 may not be more than 75% of the service annuity granted to the employee annuitant on the date of retirement unless the minimum annuity to the surviving spouse payable under Section 12‑135.1 exceeds the 75% maximum payable, in which case the minimum will be payable. (Source: P.A. 90‑655, eff. 7‑30‑98.)
(40 ILCS 5/12‑125)(from Ch. 108 1/2, par. 12‑125) Sec. 12‑125. Reversionary annuity. "Reversionary annuity": A deferred annuity computed according to the applicable actuarial table, based on employee and employer contributions for surviving spouse's service annuity and surviving spouse's prior service annuity, and payable to the beneficiary during lifetime, or other stated period, only if the beneficiary survives the employee receiving a retirement annuity and qualifies as the surviving spouse under Section 12‑123.1. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑125.1)(from Ch. 108 1/2, par. 12‑125.1) Sec. 12‑125.1. Optional reversionary annuity. "Optional reversionary annuity": A deferred annuity derived from part of the actuarial value of an employee's retirement annuity, computed according to the applicable actuarial tables and payable during the lifetime of the beneficiary only if the beneficiary survives the employee receiving a retirement annuity and qualifies as the surviving spouse under Section 12‑123.1. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑126)(from Ch. 108 1/2, par. 12‑126) Sec. 12‑126. Actuarial equivalent. "Actuarial equivalent": An annuity or benefit of equal value to the accumulated contributions, annuity or other benefit, when computed upon the basis of the actuarial tables in use by the fund. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑127)(from Ch. 108 1/2, par. 12‑127) Sec. 12‑127. Computation of service. (a) If an employee during any leave of absence for 30 days or more without pay who is not receiving ordinary disability or duty disability benefits contributes the percentage of salary theretofore deducted from his salary for annuity purposes, the employer shall contribute corresponding amounts for such purposes. Payment for any approved leave of absence shall not be valid unless made during such absence or within 30 days from expiration thereof. The aggregate of leaves of absence for which contributions may be made during the entire employee's service shall be 1 year. (b) In computing service, credit shall be given for all leaves of absence subject to the limitations specified in the following paragraph during the time an employee was engaged in the military or naval service of the United States of America during the years 1914 to 1919, inclusive, or between September 16, 1940, and July 25, 1947, or between June 25, 1950, and January 31, 1955, and any such service rendered after January 31, 1955, and who within 180 days subsequent to the completion of military or naval service re‑enters the service of the employer. The total credit any employee shall receive for military or naval service during the entire term of service as an employee shall be subject to the following conditions and limitations: (1) if entry into military or naval service occurs
after July 1, 1961, the total credit shall not exceed 3 years;
(2) if entry into military or naval service occurred
on or prior to July 1, 1961, the total credit shall not exceed 5 years;
(3) an employee who on July 1, 1961, had accrued
more than 5 years of such military or naval service shall be entitled to the total amount of such accrued credit.
The contributions an employee would have made during the period of such military or naval service, together with the prescribed employer contributions, shall be made by the employer and shall be based on the salary for the position occupied by the employee on the date of commencement of the leave of absence. (c) For all purposes of this Article except the provisions of Section 12‑133, the following shall constitute a year of service in any fiscal year for salary payable according to the basis specified: Monthly Basis: 4 months; Weekly Basis: 17 weeks; Daily Basis: 100 days; Hourly Basis: 800 hours, except that in the case of an employee becoming a participant of the fund on and after July 1, 1973, the following schedule shall govern for all purposes of this Article: Service during 9 months or more in any fiscal year shall constitute a year of service; 6 to 8 months, inclusive, 3/4 of a year; 3 to 5 months, inclusive, 1/2 year; less than 3 months, 1/4 of a year; 15 days or more in any month, a month of service. (d) The periods an employee received ordinary or duty disability benefit shall be included in the computation of service. (e) Upon receipt of the specified payment, credits transferred to a fund established under this Article pursuant to subsection (d) of Section 8‑226.1, subsection (d) of Section 9‑121.1, or Section 14‑105.1 of this Code shall be included in the computation of service. (f) A contributing employee may establish additional service credit for a period of up to 2 years spent in active military service for which he or she does not qualify for credit under subsection (b), provided that (1) the person was not dishonorably discharged from the military service, and (2) the amount of service credit established by the person under this subsection (f), when added to the amount of any military service credit granted to the person under subsection (b), shall not exceed 5 years. In order to establish military service credit under this subsection (f), the applicant must submit a written application to the Fund, including a copy of the applicant's discharge from military service, and pay to the Fund (1) employee contributions at the rates provided in this Article based upon the person's salary on the last date as a participating employee prior to the military service, or on the first date as a participating employee after the military service, whichever is greater, plus (2) an amount determined by the board to be equal to the employer's normal cost of the benefits accrued for such military service, plus (3) regular interest on items (1) and (2) from the date of conclusion of the military service to the date of payment. Contributions must be paid in a single lump sum before the credit will be granted. Credit established under this subsection may be used for pension purposes only. (g) A contributing employee may establish additional service credit for a period of up to 5 years of employment by the United States federal government for which he or she does not qualify for credit under any other provision of this Article, provided that (1) the amount of service credit established by the person under this subsection (g), when added to the amount of all military service credit granted to the person under subsections (b) and (f), shall not exceed 5 years, and (2) any credit received for the federal employment in any other public pension fund or retirement system has been terminated or relinquished. In order to establish service credit under this subsection (g), the applicant must submit a written application to the Fund, including such documentation of the federal employment as the Board may require, and pay to the Fund (1) employee contributions at the rates provided in this Article based upon the person's salary on the last date as a participating employee prior to the federal service, or on the first date as a participating employee after the federal service, whichever is greater, plus (2) an amount determined by the Board to be equal to the employer's normal cost of the benefits accrued for such federal service, plus (3) regular interest on items (1) and (2) from the date of conclusion of the federal service to the date of payment. Contributions must be paid in a single lump sum before the credit is granted. Credit established under this subsection may be used for pension purposes only. (Source: P.A. 86‑272; 86‑1488; 87‑1265.)
(40 ILCS 5/12‑127.1)(from Ch. 108 1/2, par. 12‑127.1) Sec. 12‑127.1. Transfer to General Assembly Retirement System. (a) Any active (and until April 1, 1993, any former) member of the General Assembly Retirement System may apply for trans
ARTICLE 12. PARK EMPLOYEES' AND RETIREMENT BOARD EMPLOYEES' ANNUITY AND
BENEFIT FUND‑‑CITIES OVER 500,000
(40 ILCS 5/12‑101)(from Ch. 108 1/2, par. 12‑101) Sec. 12‑101. Creation of fund. In each city of more than 500,000 population, and having a board of park commissioners, under and in pursuance of an Act of the General Assembly, for the purpose of locating, establishing and enclosing, improving or maintaining any public park, boulevard, driveway, or highway or other public work or improvement, an annuity and benefit fund, hereinafter referred to as the "fund", shall be created, maintained, administered and disbursed in the manner described in this Article for the employees of such board as described in "An Act relating to the civil service in park systems", approved June 10, 1911, as amended, including employees in the classified service, and all persons in exempt positions, and employees of the retirement board charged herein with the duty of administering such fund, and for the surviving spouses and children of such employees. It is the intention of this Article that any employee or former employee of a board of park commissioners or of the retirement board, shall be deemed to have been an employee during all time heretofore that the employee shall have been in such service, and that this Article shall be construed to be retroactive in effect. Participation in the fund by any person entering the service of the board of park commissioners or the retirement board shall be effective only upon completion of 6 months of continuous service, except that beginning July 1, 1991, this 6‑month qualification period shall not apply to any person employed in a position requiring service for 6 months or more in a calendar year who would be exempted from mandatory participation in the federal Social Security program by virtue of his participation in the fund. Contributions to the fund shall begin with the payroll period next following that in which the qualification period ends, or if no qualification period is required, upon the commencement of employment. The right to any annuity or benefit shall accrue from the date when such contributions begin. Any employee shall have the right to make contributions for retirement and spouse's annuity purposes for the qualification period prior to membership upon completing 10 years of service or attaining age 60 whichever event first occurs. Any person who entered service for the first time on or before September 16, 1980 at age 60 or over may contribute and receive credit for all service rendered prior to his date of entry into the fund. These contributions shall be based upon the salary and rate of contributions in effect at the date of his entry into the fund, plus regular interest compounded annually from the end of the waiting period to the date the contributions are made, whereupon credit as service for such period shall be granted the employee. The provisions of the "Exchange of Functions Act of 1957", approved July 5, 1957, as heretofore or hereafter amended, to the extent that they apply to and affect the fund herein established, are incorporated into and made a part of this Article by express reference. Employees of a park district, other than park policemen, transferred to the employment of a city pursuant to said Act, if members of the fund herein established, shall remain members of said fund, and their rights, credits and equities therein shall remain unimpaired by such transfer of employment. (Source: P.A. 87‑794.)
(40 ILCS 5/12‑102)(from Ch. 108 1/2, par. 12‑102) Sec. 12‑102. Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 12‑‑103 to 12‑‑126, inclusive, except when the context otherwise requires. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑103)(from Ch. 108 1/2, par. 12‑103) Sec. 12‑103. The 1919 Act. "The 1919 Act": "An Act to provide for the creation, setting apart, formation, administration and disbursement of a park employees' and retirement board employees' annuity and benefit fund", approved June 21, 1919, as amended. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑104)(from Ch. 108 1/2, par. 12‑104) Sec. 12‑104. Exchange of Functions Act of 1957. "Exchange of Functions Act of 1957": "An Act in relation to an exchange of certain functions, property and personnel among cities and park districts having coextensive geographic areas and populations in excess of 500,000", approved July 5, 1957, as amended. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑105)(from Ch. 108 1/2, par. 12‑105) Sec. 12‑105. Retirement board or board. "Retirement board" or "board": The board of trustees of the Park Employees' and Retirement Board Employees' Annuity and Benefit Fund as created and constituted in this Article. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑106)(from Ch. 108 1/2, par. 12‑106) Sec. 12‑106. Actuarial tables. "Actuarial tables": The American Experience Table of Mortality and 4% interest for any present employee or future entrant who was a participant or contributor to the fund on June 30, 1959, and for their widows or other beneficiaries, except as to reserves on annuities for the computation of which the Combined Annuity Mortality Table and 4% interest shall be used, and the Combined Annuity Mortality Table and 4% interest for any future entrant whose first participation in the fund began on or after July 1, 1959, and for his widow or other beneficiaries. All annuities and reserves on annuities, present or prospective, except as may otherwise be provided, shall be computed according to such actuarial tables and regular interest, as herein defined: provided, however, that effective as of July 1, 1979 the actuarial table and rate of interest to be used shall be that adopted by the retirement board upon recommendation of the actuary. (Source: P.A. 81‑698.)
(40 ILCS 5/12‑107)(from Ch. 108 1/2, par. 12‑107) Sec. 12‑107. Reserve. "Reserve": when applied to an annuity means the present value, according to the applicable actuarial tables and rate of interest, of the payments to be made on account of such annuity. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑108)(from Ch. 108 1/2, par. 12‑108) Sec. 12‑108. Highest salary. "Highest salary": The highest rate of salary received by an employee during his total service. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑109)(from Ch. 108 1/2, par. 12‑109) Sec. 12‑109. Service. "Service": Employment by an employer in a position covered by this Article, including (a) actual employment in pay status, (b) periods of approved leaves of absence for which contributions are made by the employee, (c) periods of military service for which credit is granted, and (d) periods for which contribution credits are granted during disability. (Source: P.A. 81‑1536.)
(40 ILCS 5/12‑111)(from Ch. 108 1/2, par. 12‑111) Sec. 12‑111. Withdrawal or withdraws. "Withdrawal" or "withdraws": Resignation, separation or discharge from service as an employee from any position to which a person has civil service status and may be subject to re‑employment in the classified civil service under "An Act relating to the civil service in park systems", approved June 10, 1911, as amended. (Source: Laws 1963, p. 2177.)
(40 ILCS 5/12‑112)(from Ch. 108 1/2, par. 12‑112) Sec. 12‑112. Future entrant. "Future entrant": An employee who entered service after July 1, 1919, or, as applied to an employee of the board, an employee who entered service after July 1, 1937. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑114)(from Ch. 108 1/2, par. 12‑114) Sec. 12‑114. Regular interest. "Regular interest": Interest at the rate prescribed by the Board upon recommendation of the actuary for all employees, spouses or other beneficiaries. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑115)(from Ch. 108 1/2, par. 12‑115) Sec. 12‑115. Present value. "Present value": The amount of funds presently required to provide an annuity or benefit at some future date when computed according to the actuarial tables. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑116)(from Ch. 108 1/2, par. 12‑116) Sec. 12‑116. Fiscal year. "Fiscal year": The year commencing with July 1st and ending with June 30th next following. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑117)(from Ch. 108 1/2, par. 12‑117) Sec. 12‑117. Contributions. "Contributions": Amounts deducted from the salary or amounts otherwise paid by an employee for the purposes of this Article. (Source: P.A. 81‑1536.)
(40 ILCS 5/12‑118)(from Ch. 108 1/2, par. 12‑118) Sec. 12‑118. Employee. "Employee": Any person in the service of a board of park commissioners as described in Section 12‑101, or employees of the board, except (a) any person employed in any position requiring service of less than 90 hours during a monthly period, or, beginning July 1, 1991, in any position requiring service of less than 6 months during a calendar year, unless that person is already a member of the fund, and (b) any employee of a city or district transferred to the employment of a park district by virtue of the Exchange of Functions Act of 1957. (Source: P.A. 86‑272; 87‑794.)
(40 ILCS 5/12‑118.1)(from Ch. 108 1/2, par. 12‑118.1) Sec. 12‑118.1. Employee annuitant. "Employee annuitant": An employee who has withdrawn from service and has been granted a service retirement annuity. (Source: Laws 1965, p. 1936.)
(40 ILCS 5/12‑118.2)(from Ch. 108 1/2, par. 12‑118.2) Sec. 12‑118.2. Gender. The masculine gender whenever used in this Article includes the feminine gender and all annuities and other benefits applicable to male employees and their survivors, and the contributions to be made for widows' annuities or other annuities, benefits, and refunds shall apply with equal force to female employees and their survivors, without any modification or distinction whatsoever. (Source: P. A. 78‑1129.)
(40 ILCS 5/12‑119)(from Ch. 108 1/2, par. 12‑119) Sec. 12‑119. Transferred employee. "Transferred employee": An employee who was transferred to the employment of a city by virtue of "An Act in relation to an exchange of certain functions, property and personnel among cities and park districts having coextensive geographic areas and populations in excess of 500,000", approved July 5, 1957, as amended. A park policeman shall not be included as being a transferred employee within the meaning of this Article. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑120)(from Ch. 108 1/2, par. 12‑120) Sec. 12‑120. Employer. "Employer": Any board of park commissioners referred to in this Article and the retirement board defined in this Article. Effective January 1, 1959, "employer" shall also include any city to which is transferred by virtue of the "Exchange of Functions Act of 1957" the employment of employees of a park district (other than park policemen) who are members of the fund established by "The 1919 Act". (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑121)(from Ch. 108 1/2, par. 12‑121) Sec. 12‑121. Leave of absence. "Leave of absence": Absence from service for a temporary period on permission given by the employer upon written request of the employee. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑122)(from Ch. 108 1/2, par. 12‑122) Sec. 12‑122. Salary. "Salary": (a) The annual salary of any employee whose salary is on a yearly basis; (b) 12 times the amount of the salary per month of an employee whose salary is on a monthly basis; (c) 52 times the amount of the salary per week of an employee whose salary is on a weekly basis; (d) 260 times the amount of the salary per day of an employee whose salary is on a daily basis or 2,080 times the amount of the salary per hour of an employee whose salary is on an hourly basis. The number of days or hours in excess of the maximum prescribed by the employer shall not be considered; (e) the maximum annual salary when arranged on a yearly basis to be considered for contributions and benefits for the various purposes of this Article for the periods specified shall be as follows: July 1, 1919 to June 30, 1921, inclusive, $2,500; July 1, 1921 to July 20, 1947, inclusive, $3,000; July 21, 1947, to June 30, 1951, inclusive, $4,800; July 1, 1951 to June 30, 1957, inclusive, $6,000; July 1, 1957 and thereafter, no maximum limitation; (f) the maximum annual salary where arranged on other than a yearly basis to be considered for contributions and benefits for the various purposes of this Article for the periods prior to the effective date of the formulas specified in paragraph (b), (c) or (d) of this section, shall be computed in accordance with the applicable law in force during such periods. Salary for part‑time employment in positions of a seasonal or part‑time character shall be computed in accordance with the foregoing standards as the same may be applicable for the respective periods of employment under rules established by the board. (Source: P. A. 78‑266.)
(40 ILCS 5/12‑123)(from Ch. 108 1/2, par. 12‑123) Sec. 12‑123. Age. "Age": Age at the latest birthday. In the computation of any retirement annuity, the actuarial factor shall be prorated for the number of days between the employee's last birthday and his age on the effective date of the annuity. (Source: P.A. 86‑272.)
(40 ILCS 5/12‑123.1)(from Ch. 108 1/2, par. 12‑123.1) Sec. 12‑123.1. Surviving spouse. Surviving spouse: The spouse of an active employee on the date of the employee's death; the spouse of an inactive member on the date of separation from park service, unless the member has subsequent service with another pension fund or retirement system under the Retirement Systems Reciprocal Act and elects to receive a retirement annuity calculated under that Act; the spouse of an annuitant on the date of retirement. If the marriage terminates after the inactive member separates from service or the member retires, the former spouse is no longer eligible for benefits as the surviving spouse. The term "widow" means "surviving spouse" for the purposes of this Article. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑124)(from Ch. 108 1/2, par. 12‑124) Sec. 12‑124. Fixation of annuity; limitation on reversionary annuity. "Fixation of annuity": As applied to a service annuity or prior service annuity or a surviving spouse's annuity, the final determination of the annuity at the date of retirement. A reversionary annuity calculated after January 1, 1990 may not be more than 75% of the service annuity granted to the employee annuitant on the date of retirement unless the minimum annuity to the surviving spouse payable under Section 12‑135.1 exceeds the 75% maximum payable, in which case the minimum will be payable. (Source: P.A. 90‑655, eff. 7‑30‑98.)
(40 ILCS 5/12‑125)(from Ch. 108 1/2, par. 12‑125) Sec. 12‑125. Reversionary annuity. "Reversionary annuity": A deferred annuity computed according to the applicable actuarial table, based on employee and employer contributions for surviving spouse's service annuity and surviving spouse's prior service annuity, and payable to the beneficiary during lifetime, or other stated period, only if the beneficiary survives the employee receiving a retirement annuity and qualifies as the surviving spouse under Section 12‑123.1. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑125.1)(from Ch. 108 1/2, par. 12‑125.1) Sec. 12‑125.1. Optional reversionary annuity. "Optional reversionary annuity": A deferred annuity derived from part of the actuarial value of an employee's retirement annuity, computed according to the applicable actuarial tables and payable during the lifetime of the beneficiary only if the beneficiary survives the employee receiving a retirement annuity and qualifies as the surviving spouse under Section 12‑123.1. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑126)(from Ch. 108 1/2, par. 12‑126) Sec. 12‑126. Actuarial equivalent. "Actuarial equivalent": An annuity or benefit of equal value to the accumulated contributions, annuity or other benefit, when computed upon the basis of the actuarial tables in use by the fund. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑127)(from Ch. 108 1/2, par. 12‑127) Sec. 12‑127. Computation of service. (a) If an employee during any leave of absence for 30 days or more without pay who is not receiving ordinary disability or duty disability benefits contributes the percentage of salary theretofore deducted from his salary for annuity purposes, the employer shall contribute corresponding amounts for such purposes. Payment for any approved leave of absence shall not be valid unless made during such absence or within 30 days from expiration thereof. The aggregate of leaves of absence for which contributions may be made during the entire employee's service shall be 1 year. (b) In computing service, credit shall be given for all leaves of absence subject to the limitations specified in the following paragraph during the time an employee was engaged in the military or naval service of the United States of America during the years 1914 to 1919, inclusive, or between September 16, 1940, and July 25, 1947, or between June 25, 1950, and January 31, 1955, and any such service rendered after January 31, 1955, and who within 180 days subsequent to the completion of military or naval service re‑enters the service of the employer. The total credit any employee shall receive for military or naval service during the entire term of service as an employee shall be subject to the following conditions and limitations: (1) if entry into military or naval service occurs
after July 1, 1961, the total credit shall not exceed 3 years;
(2) if entry into military or naval service occurred
on or prior to July 1, 1961, the total credit shall not exceed 5 years;
(3) an employee who on July 1, 1961, had accrued
more than 5 years of such military or naval service shall be entitled to the total amount of such accrued credit.
The contributions an employee would have made during the period of such military or naval service, together with the prescribed employer contributions, shall be made by the employer and shall be based on the salary for the position occupied by the employee on the date of commencement of the leave of absence. (c) For all purposes of this Article except the provisions of Section 12‑133, the following shall constitute a year of service in any fiscal year for salary payable according to the basis specified: Monthly Basis: 4 months; Weekly Basis: 17 weeks; Daily Basis: 100 days; Hourly Basis: 800 hours, except that in the case of an employee becoming a participant of the fund on and after July 1, 1973, the following schedule shall govern for all purposes of this Article: Service during 9 months or more in any fiscal year shall constitute a year of service; 6 to 8 months, inclusive, 3/4 of a year; 3 to 5 months, inclusive, 1/2 year; less than 3 months, 1/4 of a year; 15 days or more in any month, a month of service. (d) The periods an employee received ordinary or duty disability benefit shall be included in the computation of service. (e) Upon receipt of the specified payment, credits transferred to a fund established under this Article pursuant to subsection (d) of Section 8‑226.1, subsection (d) of Section 9‑121.1, or Section 14‑105.1 of this Code shall be included in the computation of service. (f) A contributing employee may establish additional service credit for a period of up to 2 years spent in active military service for which he or she does not qualify for credit under subsection (b), provided that (1) the person was not dishonorably discharged from the military service, and (2) the amount of service credit established by the person under this subsection (f), when added to the amount of any military service credit granted to the person under subsection (b), shall not exceed 5 years. In order to establish military service credit under this subsection (f), the applicant must submit a written application to the Fund, including a copy of the applicant's discharge from military service, and pay to the Fund (1) employee contributions at the rates provided in this Article based upon the person's salary on the last date as a participating employee prior to the military service, or on the first date as a participating employee after the military service, whichever is greater, plus (2) an amount determined by the board to be equal to the employer's normal cost of the benefits accrued for such military service, plus (3) regular interest on items (1) and (2) from the date of conclusion of the military service to the date of payment. Contributions must be paid in a single lump sum before the credit will be granted. Credit established under this subsection may be used for pension purposes only. (g) A contributing employee may establish additional service credit for a period of up to 5 years of employment by the United States federal government for which he or she does not qualify for credit under any other provision of this Article, provided that (1) the amount of service credit established by the person under this subsection (g), when added to the amount of all military service credit granted to the person under subsections (b) and (f), shall not exceed 5 years, and (2) any credit received for the federal employment in any other public pension fund or retirement system has been terminated or relinquished. In order to establish service credit under this subsection (g), the applicant must submit a written application to the Fund, including such documentation of the federal employment as the Board may require, and pay to the Fund (1) employee contributions at the rates provided in this Article based upon the person's salary on the last date as a participating employee prior to the federal service, or on the first date as a participating employee after the federal service, whichever is greater, plus (2) an amount determined by the Board to be equal to the employer's normal cost of the benefits accrued for such federal service, plus (3) regular interest on items (1) and (2) from the date of conclusion of the federal service to the date of payment. Contributions must be paid in a single lump sum before the credit is granted. Credit established under this subsection may be used for pension purposes only. (Source: P.A. 86‑272; 86‑1488; 87‑1265.)
(40 ILCS 5/12‑127.1)(from Ch. 108 1/2, par. 12‑127.1) Sec. 12‑127.1. Transfer to General Assembly Retirement System. (a) Any active (and until April 1, 1993, any former) member of the General Assembly Retirement System may apply for trans
ARTICLE 12. PARK EMPLOYEES' AND RETIREMENT BOARD EMPLOYEES' ANNUITY AND
BENEFIT FUND‑‑CITIES OVER 500,000
(40 ILCS 5/12‑101)(from Ch. 108 1/2, par. 12‑101) Sec. 12‑101. Creation of fund. In each city of more than 500,000 population, and having a board of park commissioners, under and in pursuance of an Act of the General Assembly, for the purpose of locating, establishing and enclosing, improving or maintaining any public park, boulevard, driveway, or highway or other public work or improvement, an annuity and benefit fund, hereinafter referred to as the "fund", shall be created, maintained, administered and disbursed in the manner described in this Article for the employees of such board as described in "An Act relating to the civil service in park systems", approved June 10, 1911, as amended, including employees in the classified service, and all persons in exempt positions, and employees of the retirement board charged herein with the duty of administering such fund, and for the surviving spouses and children of such employees. It is the intention of this Article that any employee or former employee of a board of park commissioners or of the retirement board, shall be deemed to have been an employee during all time heretofore that the employee shall have been in such service, and that this Article shall be construed to be retroactive in effect. Participation in the fund by any person entering the service of the board of park commissioners or the retirement board shall be effective only upon completion of 6 months of continuous service, except that beginning July 1, 1991, this 6‑month qualification period shall not apply to any person employed in a position requiring service for 6 months or more in a calendar year who would be exempted from mandatory participation in the federal Social Security program by virtue of his participation in the fund. Contributions to the fund shall begin with the payroll period next following that in which the qualification period ends, or if no qualification period is required, upon the commencement of employment. The right to any annuity or benefit shall accrue from the date when such contributions begin. Any employee shall have the right to make contributions for retirement and spouse's annuity purposes for the qualification period prior to membership upon completing 10 years of service or attaining age 60 whichever event first occurs. Any person who entered service for the first time on or before September 16, 1980 at age 60 or over may contribute and receive credit for all service rendered prior to his date of entry into the fund. These contributions shall be based upon the salary and rate of contributions in effect at the date of his entry into the fund, plus regular interest compounded annually from the end of the waiting period to the date the contributions are made, whereupon credit as service for such period shall be granted the employee. The provisions of the "Exchange of Functions Act of 1957", approved July 5, 1957, as heretofore or hereafter amended, to the extent that they apply to and affect the fund herein established, are incorporated into and made a part of this Article by express reference. Employees of a park district, other than park policemen, transferred to the employment of a city pursuant to said Act, if members of the fund herein established, shall remain members of said fund, and their rights, credits and equities therein shall remain unimpaired by such transfer of employment. (Source: P.A. 87‑794.)
(40 ILCS 5/12‑102)(from Ch. 108 1/2, par. 12‑102) Sec. 12‑102. Terms defined. The terms used in this Article shall have the meanings ascribed to them in Sections 12‑‑103 to 12‑‑126, inclusive, except when the context otherwise requires. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑103)(from Ch. 108 1/2, par. 12‑103) Sec. 12‑103. The 1919 Act. "The 1919 Act": "An Act to provide for the creation, setting apart, formation, administration and disbursement of a park employees' and retirement board employees' annuity and benefit fund", approved June 21, 1919, as amended. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑104)(from Ch. 108 1/2, par. 12‑104) Sec. 12‑104. Exchange of Functions Act of 1957. "Exchange of Functions Act of 1957": "An Act in relation to an exchange of certain functions, property and personnel among cities and park districts having coextensive geographic areas and populations in excess of 500,000", approved July 5, 1957, as amended. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑105)(from Ch. 108 1/2, par. 12‑105) Sec. 12‑105. Retirement board or board. "Retirement board" or "board": The board of trustees of the Park Employees' and Retirement Board Employees' Annuity and Benefit Fund as created and constituted in this Article. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑106)(from Ch. 108 1/2, par. 12‑106) Sec. 12‑106. Actuarial tables. "Actuarial tables": The American Experience Table of Mortality and 4% interest for any present employee or future entrant who was a participant or contributor to the fund on June 30, 1959, and for their widows or other beneficiaries, except as to reserves on annuities for the computation of which the Combined Annuity Mortality Table and 4% interest shall be used, and the Combined Annuity Mortality Table and 4% interest for any future entrant whose first participation in the fund began on or after July 1, 1959, and for his widow or other beneficiaries. All annuities and reserves on annuities, present or prospective, except as may otherwise be provided, shall be computed according to such actuarial tables and regular interest, as herein defined: provided, however, that effective as of July 1, 1979 the actuarial table and rate of interest to be used shall be that adopted by the retirement board upon recommendation of the actuary. (Source: P.A. 81‑698.)
(40 ILCS 5/12‑107)(from Ch. 108 1/2, par. 12‑107) Sec. 12‑107. Reserve. "Reserve": when applied to an annuity means the present value, according to the applicable actuarial tables and rate of interest, of the payments to be made on account of such annuity. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑108)(from Ch. 108 1/2, par. 12‑108) Sec. 12‑108. Highest salary. "Highest salary": The highest rate of salary received by an employee during his total service. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑109)(from Ch. 108 1/2, par. 12‑109) Sec. 12‑109. Service. "Service": Employment by an employer in a position covered by this Article, including (a) actual employment in pay status, (b) periods of approved leaves of absence for which contributions are made by the employee, (c) periods of military service for which credit is granted, and (d) periods for which contribution credits are granted during disability. (Source: P.A. 81‑1536.)
(40 ILCS 5/12‑111)(from Ch. 108 1/2, par. 12‑111) Sec. 12‑111. Withdrawal or withdraws. "Withdrawal" or "withdraws": Resignation, separation or discharge from service as an employee from any position to which a person has civil service status and may be subject to re‑employment in the classified civil service under "An Act relating to the civil service in park systems", approved June 10, 1911, as amended. (Source: Laws 1963, p. 2177.)
(40 ILCS 5/12‑112)(from Ch. 108 1/2, par. 12‑112) Sec. 12‑112. Future entrant. "Future entrant": An employee who entered service after July 1, 1919, or, as applied to an employee of the board, an employee who entered service after July 1, 1937. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑114)(from Ch. 108 1/2, par. 12‑114) Sec. 12‑114. Regular interest. "Regular interest": Interest at the rate prescribed by the Board upon recommendation of the actuary for all employees, spouses or other beneficiaries. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑115)(from Ch. 108 1/2, par. 12‑115) Sec. 12‑115. Present value. "Present value": The amount of funds presently required to provide an annuity or benefit at some future date when computed according to the actuarial tables. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑116)(from Ch. 108 1/2, par. 12‑116) Sec. 12‑116. Fiscal year. "Fiscal year": The year commencing with July 1st and ending with June 30th next following. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑117)(from Ch. 108 1/2, par. 12‑117) Sec. 12‑117. Contributions. "Contributions": Amounts deducted from the salary or amounts otherwise paid by an employee for the purposes of this Article. (Source: P.A. 81‑1536.)
(40 ILCS 5/12‑118)(from Ch. 108 1/2, par. 12‑118) Sec. 12‑118. Employee. "Employee": Any person in the service of a board of park commissioners as described in Section 12‑101, or employees of the board, except (a) any person employed in any position requiring service of less than 90 hours during a monthly period, or, beginning July 1, 1991, in any position requiring service of less than 6 months during a calendar year, unless that person is already a member of the fund, and (b) any employee of a city or district transferred to the employment of a park district by virtue of the Exchange of Functions Act of 1957. (Source: P.A. 86‑272; 87‑794.)
(40 ILCS 5/12‑118.1)(from Ch. 108 1/2, par. 12‑118.1) Sec. 12‑118.1. Employee annuitant. "Employee annuitant": An employee who has withdrawn from service and has been granted a service retirement annuity. (Source: Laws 1965, p. 1936.)
(40 ILCS 5/12‑118.2)(from Ch. 108 1/2, par. 12‑118.2) Sec. 12‑118.2. Gender. The masculine gender whenever used in this Article includes the feminine gender and all annuities and other benefits applicable to male employees and their survivors, and the contributions to be made for widows' annuities or other annuities, benefits, and refunds shall apply with equal force to female employees and their survivors, without any modification or distinction whatsoever. (Source: P. A. 78‑1129.)
(40 ILCS 5/12‑119)(from Ch. 108 1/2, par. 12‑119) Sec. 12‑119. Transferred employee. "Transferred employee": An employee who was transferred to the employment of a city by virtue of "An Act in relation to an exchange of certain functions, property and personnel among cities and park districts having coextensive geographic areas and populations in excess of 500,000", approved July 5, 1957, as amended. A park policeman shall not be included as being a transferred employee within the meaning of this Article. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑120)(from Ch. 108 1/2, par. 12‑120) Sec. 12‑120. Employer. "Employer": Any board of park commissioners referred to in this Article and the retirement board defined in this Article. Effective January 1, 1959, "employer" shall also include any city to which is transferred by virtue of the "Exchange of Functions Act of 1957" the employment of employees of a park district (other than park policemen) who are members of the fund established by "The 1919 Act". (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑121)(from Ch. 108 1/2, par. 12‑121) Sec. 12‑121. Leave of absence. "Leave of absence": Absence from service for a temporary period on permission given by the employer upon written request of the employee. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑122)(from Ch. 108 1/2, par. 12‑122) Sec. 12‑122. Salary. "Salary": (a) The annual salary of any employee whose salary is on a yearly basis; (b) 12 times the amount of the salary per month of an employee whose salary is on a monthly basis; (c) 52 times the amount of the salary per week of an employee whose salary is on a weekly basis; (d) 260 times the amount of the salary per day of an employee whose salary is on a daily basis or 2,080 times the amount of the salary per hour of an employee whose salary is on an hourly basis. The number of days or hours in excess of the maximum prescribed by the employer shall not be considered; (e) the maximum annual salary when arranged on a yearly basis to be considered for contributions and benefits for the various purposes of this Article for the periods specified shall be as follows: July 1, 1919 to June 30, 1921, inclusive, $2,500; July 1, 1921 to July 20, 1947, inclusive, $3,000; July 21, 1947, to June 30, 1951, inclusive, $4,800; July 1, 1951 to June 30, 1957, inclusive, $6,000; July 1, 1957 and thereafter, no maximum limitation; (f) the maximum annual salary where arranged on other than a yearly basis to be considered for contributions and benefits for the various purposes of this Article for the periods prior to the effective date of the formulas specified in paragraph (b), (c) or (d) of this section, shall be computed in accordance with the applicable law in force during such periods. Salary for part‑time employment in positions of a seasonal or part‑time character shall be computed in accordance with the foregoing standards as the same may be applicable for the respective periods of employment under rules established by the board. (Source: P. A. 78‑266.)
(40 ILCS 5/12‑123)(from Ch. 108 1/2, par. 12‑123) Sec. 12‑123. Age. "Age": Age at the latest birthday. In the computation of any retirement annuity, the actuarial factor shall be prorated for the number of days between the employee's last birthday and his age on the effective date of the annuity. (Source: P.A. 86‑272.)
(40 ILCS 5/12‑123.1)(from Ch. 108 1/2, par. 12‑123.1) Sec. 12‑123.1. Surviving spouse. Surviving spouse: The spouse of an active employee on the date of the employee's death; the spouse of an inactive member on the date of separation from park service, unless the member has subsequent service with another pension fund or retirement system under the Retirement Systems Reciprocal Act and elects to receive a retirement annuity calculated under that Act; the spouse of an annuitant on the date of retirement. If the marriage terminates after the inactive member separates from service or the member retires, the former spouse is no longer eligible for benefits as the surviving spouse. The term "widow" means "surviving spouse" for the purposes of this Article. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑124)(from Ch. 108 1/2, par. 12‑124) Sec. 12‑124. Fixation of annuity; limitation on reversionary annuity. "Fixation of annuity": As applied to a service annuity or prior service annuity or a surviving spouse's annuity, the final determination of the annuity at the date of retirement. A reversionary annuity calculated after January 1, 1990 may not be more than 75% of the service annuity granted to the employee annuitant on the date of retirement unless the minimum annuity to the surviving spouse payable under Section 12‑135.1 exceeds the 75% maximum payable, in which case the minimum will be payable. (Source: P.A. 90‑655, eff. 7‑30‑98.)
(40 ILCS 5/12‑125)(from Ch. 108 1/2, par. 12‑125) Sec. 12‑125. Reversionary annuity. "Reversionary annuity": A deferred annuity computed according to the applicable actuarial table, based on employee and employer contributions for surviving spouse's service annuity and surviving spouse's prior service annuity, and payable to the beneficiary during lifetime, or other stated period, only if the beneficiary survives the employee receiving a retirement annuity and qualifies as the surviving spouse under Section 12‑123.1. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑125.1)(from Ch. 108 1/2, par. 12‑125.1) Sec. 12‑125.1. Optional reversionary annuity. "Optional reversionary annuity": A deferred annuity derived from part of the actuarial value of an employee's retirement annuity, computed according to the applicable actuarial tables and payable during the lifetime of the beneficiary only if the beneficiary survives the employee receiving a retirement annuity and qualifies as the surviving spouse under Section 12‑123.1. (Source: P.A. 87‑1265.)
(40 ILCS 5/12‑126)(from Ch. 108 1/2, par. 12‑126) Sec. 12‑126. Actuarial equivalent. "Actuarial equivalent": An annuity or benefit of equal value to the accumulated contributions, annuity or other benefit, when computed upon the basis of the actuarial tables in use by the fund. (Source: Laws 1963, p. 161.)
(40 ILCS 5/12‑127)(from Ch. 108 1/2, par. 12‑127) Sec. 12‑127. Computation of service. (a) If an employee during any leave of absence for 30 days or more without pay who is not receiving ordinary disability or duty disability benefits contributes the percentage of salary theretofore deducted from his salary for annuity purposes, the employer shall contribute corresponding amounts for such purposes. Payment for any approved leave of absence shall not be valid unless made during such absence or within 30 days from expiration thereof. The aggregate of leaves of absence for which contributions may be made during the entire employee's service shall be 1 year. (b) In computing service, credit shall be given for all leaves of absence subject to the limitations specified in the following paragraph during the time an employee was engaged in the military or naval service of the United States of America during the years 1914 to 1919, inclusive, or between September 16, 1940, and July 25, 1947, or between June 25, 1950, and January 31, 1955, and any such service rendered after January 31, 1955, and who within 180 days subsequent to the completion of military or naval service re‑enters the service of the employer. The total credit any employee shall receive for military or naval service during the entire term of service as an employee shall be subject to the following conditions and limitations: (1) if entry into military or naval service occurs
after July 1, 1961, the total credit shall not exceed 3 years;
(2) if entry into military or naval service occurred
on or prior to July 1, 1961, the total credit shall not exceed 5 years;
(3) an employee who on July 1, 1961, had accrued
more than 5 years of such military or naval service shall be entitled to the total amount of such accrued credit.
The contributions an employee would have made during the period of such military or naval service, together with the prescribed employer contributions, shall be made by the employer and shall be based on the salary for the position occupied by the employee on the date of commencement of the leave of absence. (c) For all purposes of this Article except the provisions of Section 12‑133, the following shall constitute a year of service in any fiscal year for salary payable according to the basis specified: Monthly Basis: 4 months; Weekly Basis: 17 weeks; Daily Basis: 100 days; Hourly Basis: 800 hours, except that in the case of an employee becoming a participant of the fund on and after July 1, 1973, the following schedule shall govern for all purposes of this Article: Service during 9 months or more in any fiscal year shall constitute a year of service; 6 to 8 months, inclusive, 3/4 of a year; 3 to 5 months, inclusive, 1/2 year; less than 3 months, 1/4 of a year; 15 days or more in any month, a month of service. (d) The periods an employee received ordinary or duty disability benefit shall be included in the computation of service. (e) Upon receipt of the specified payment, credits transferred to a fund established under this Article pursuant to subsection (d) of Section 8‑226.1, subsection (d) of Section 9‑121.1, or Section 14‑105.1 of this Code shall be included in the computation of service. (f) A contributing employee may establish additional service credit for a period of up to 2 years spent in active military service for which he or she does not qualify for credit under subsection (b), provided that (1) the person was not dishonorably discharged from the military service, and (2) the amount of service credit established by the person under this subsection (f), when added to the amount of any military service credit granted to the person under subsection (b), shall not exceed 5 years. In order to establish military service credit under this subsection (f), the applicant must submit a written application to the Fund, including a copy of the applicant's discharge from military service, and pay to the Fund (1) employee contributions at the rates provided in this Article based upon the person's salary on the last date as a participating employee prior to the military service, or on the first date as a participating employee after the military service, whichever is greater, plus (2) an amount determined by the board to be equal to the employer's normal cost of the benefits accrued for such military service, plus (3) regular interest on items (1) and (2) from the date of conclusion of the military service to the date of payment. Contributions must be paid in a single lump sum before the credit will be granted. Credit established under this subsection may be used for pension purposes only. (g) A contributing employee may establish additional service credit for a period of up to 5 years of employment by the United States federal government for which he or she does not qualify for credit under any other provision of this Article, provided that (1) the amount of service credit established by the person under this subsection (g), when added to the amount of all military service credit granted to the person under subsections (b) and (f), shall not exceed 5 years, and (2) any credit received for the federal employment in any other public pension fund or retirement system has been terminated or relinquished. In order to establish service credit under this subsection (g), the applicant must submit a written application to the Fund, including such documentation of the federal employment as the Board may require, and pay to the Fund (1) employee contributions at the rates provided in this Article based upon the person's salary on the last date as a participating employee prior to the federal service, or on the first date as a participating employee after the federal service, whichever is greater, plus (2) an amount determined by the Board to be equal to the employer's normal cost of the benefits accrued for such federal service, plus (3) regular interest on items (1) and (2) from the date of conclusion of the federal service to the date of payment. Contributions must be paid in a single lump sum before the credit is granted. Credit established under this subsection may be used for pension purposes only. (Source: P.A. 86‑272; 86‑1488; 87‑1265.)
(40 ILCS 5/12‑127.1)(from Ch. 108 1/2, par. 12‑127.1) Sec. 12‑127.1. Transfer to General Assembly Retirement System. (a) Any active (and until April 1, 1993, any former) member of the General Assembly Retirement System may apply for trans
