40 ILCS 5/8-157

40 ILCS 5/8-157
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(40 ILCS 5/8-157) (from Ch. 108 1/2, par. 8-157) 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. (Source: P.A. 79-846.)
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.ilga.gov/legislation/ilcs/ilcs.aspFetched: 10/17/2026

Starting a business in Illinois? Illinois LLC guide: costs and requirements