Sec. 8-157. Term annuities-How computed.
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/il/chapter-40/act-5/8-157A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 8-157. Term annuities-How computed. In any case in which an employee's credit for an annuity for himself is insufficient--at the time the annuity is fixed or granted--to provide for him a life annuity of $100 a month, a term annuity of equal actuarial value of $100 a month shall be paid in lieu of such lesser amount of life annuity. The same provision shall apply to a widow's annuity if the life annuity is less than $100 a month.