40 ILCS 5/15-146.1
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 15 - State Universities Retirement System

 (from Ch. 108 1/2, par. 15-146.1)Sec. 15-146.1. Survivors insurance benefits-Maximum amounts.(a) The  maximum total survivors annuity payable on account of any deceased  participating  employee shall be the lesser of:  (1) 80% of the final rate of earnings;  or (2) (A) $400 per month if one survivors insurance beneficiary is entitled  to a survivors annuity, or (B) $600 per month if there are 2 or more such  beneficiaries.(b) The maximum total survivors annuity payable on account of the death  of any person occurring after retirement or after termination of his or  her employee status shall be the lesser of:  (1) 80% of the final rate of  earnings; (2) (A) $400 per month if one survivors insurance beneficiary  is entitled to a survivors annuity, or (B) $600 per month if there are 2  or more such beneficiaries; or (3) 80% of the retirement annuity payable  to the annuitant at the date of retirement under the provisions of Rule  1, Rule 2, or Rule 3 of Section 15-136, or 80% of the  retirement annuity  which would have been payable to the participant upon attainment of the  minimum age at which the penalty for early retirement would not be applicable  or the date of death, whichever is later, based upon credits earned as of  the date of death.(c) The maximum total survivors annuity payable on account of the death  of any person whose death occurs while in receipt of a disability retirement  annuity under Section 15-153.2 shall be the lesser of (1) 80% of his or  her final rate of earnings, (2) (A) $400 per month if one survivors insurance  beneficiary is entitled to a survivors annuity, or (B) $600 per month if  2 or more survivors insurance beneficiaries qualify for this benefit, or  (3) 80% of the retirement annuity which would have been payable upon attainment  of the age at which the penalty for early retirement would not be applicable  or the date of death, whichever is later, based upon the participant's credits  on the date of death, or 80% of the disability retirement annuity whichever is greater.(d) If the minimum annuity provided under Section 15-146 exceeds the maximum  annuity provided under this Section, the minimum annuity shall be payable.(e) If an annuitant has elected a reversionary annuity, the retirement  annuity referred to in this Section is that which would have been payable  had such election not been filed.(f) If a survivors insurance beneficiary qualifies for a survivors or  widows  annuity because of pension credits established by the participant  or annuitant in another system covered by Article 20, and the combined survivors  annuities exceed the highest survivors annuity which could be provided by  either system based upon the combined pension credits, the survivors annuity  payable by this system shall be reduced to that amount which, when added  to the survivors annuity payable by the other system, would equal this highest  survivors annuity.  If the other system has a similar provision for adjustment  of the survivors annuity, the respective proportional survivors annuities  shall be reduced proportionately according to the ratio which the amount  of each proportional survivors annuity bears to the aggregate of all proportional  survivors annuities.  If a survivors annuity is payable by another system  covered by Article 20, and the survivor elects to waive the survivors annuity  and accept a lump sum payment or death benefit in lieu of the survivors  annuity, this system shall, for the purpose of adjusting the survivors annuity  under this subsection, assume that the survivor was entitled to a survivors  annuity which, in accordance with actuarial tables of this system, is the  actuarial equivalent of the amount of the lump sum payment or death benefit.(g) The total monthly survivors annuity payable to the beneficiaries of  any annuitant who terminated employment before July 14, 1959 and whose death  occurs after September 16, 1977 shall not exceed $200.(h) Whenever a reduction in the survivors annuity is made as  authorized above, the survivors annuity to each dependent parent shall be  proportionately reduced or eliminated, and if further reduction is  necessary, the survivors annuity payable to every other person shall be  proportionately decreased.(i) This Section applies to the survivors insurance benefits provided to the eligible survivors of a Tier 1 member. (Source: P.A. 98-92, eff. 7-16-13.)