Sec. 9-153. Term annuities - How computed.
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/il/chapter-40/act-5/9-153A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 9-153. Term annuities - How computed. In any case in which an employee's credit for an annuity for himself or his widow is insufficient - at the time the annuity is fixed, - to provide an immediate life annuity of $150 a month for the employee or his widow, a term annuity of equal actuarial value of $150 a month shall be paid for such time as such payments can be made from such credits for the respective annuities.