40 ILCS 5/12-147
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 12 - Park Employees' And Retirement Board Employees' Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 12-147)Sec. 12-147.     Refunds of employee contributions.(1) (a) Any employee who withdraws from service before     age 60, with less than 10 years of service, shall be entitled to refund upon request.Any employee who withdraws from service after     completion of at least 10 years of service but before age 55 shall be entitled to a refund upon request, provided such request is made before he attains such age.Any employee who withdraws from service on or after     age 60 with less than 5 years of service may elect to receive either a refund or an annuity.The refund shall consist of the accumulation from     employee contributions for service annuity, annual increase in basic retirement annuity, surviving spouse's service annuity, and interest deficiency, if any, without interest for employee contributions for the period on and after August 1, 1947. For the period prior to August 1, 1947, the refund of employee contributions shall be improved by interest at 4% per annum only. Contributions by the employer for military or naval service shall not be included in any refund but shall be considered for all other purposes of this Article except service for disability benefits. Credits in lieu of salary deductions during ordinary disability or duty disability shall be refundable.(b) If a male employee has no spouse when his or her     retirement annuity is fixed, or when he or she enters on retirement annuity, a refund shall be made of the salary deductions for a widow's service annuity, without interest on any employee contributions for the period subsequent to August 1, 1947.(c) Whenever an employee and surviving spouse have     not received retirement and surviving spouse's annuity payments, before the death of the survivor, in a total amount equal to the employee's accumulated contributions for service annuity and surviving spouse's service annuity at the date those annuities became payable, including interest, the remainder shall be refunded in the manner hereinafter specified.(d) If a surviving spouse remarries before age 55 and     has not received in the form of annuity payments an amount equal to the total credited in the account of the employee from employee contributions for service annuity and spouse's service annuity purposes, including interest, the remainder of such total credits shall be refunded to the surviving spouse except that if an optional reversionary annuity is payable, no such refund shall be paid.(2) Upon death of an employee or an employee annuitant, refunds,  accrued annuity payments, accrued ordinary and duty disability benefits,  or other accrued benefits, shall be payable as follows in the order  designated:(a) to the surviving spouse of the deceased employee     or annuitant as defined in Section 12-123.1;(b) if there is no surviving spouse, or if upon the     death of a surviving spouse a refund becomes due, said monies shall be paid to the person or persons designated by the employee in a written authorization and direction executed and delivered by the employee to the board prior to his or her death, on forms supplied by the board, and acknowledged before a Notary Public;(c) if there is no such surviving spouse, or if upon     the death of a surviving spouse a refund becomes due, and the deceased employee or employee annuitant has not executed and delivered to the board prior to his or her death a written authorization and direction as described in the foregoing paragraph, the board shall pay the moneys to the executor of the estate, or if no estate need be opened, the moneys shall be distributed to the person filing a small estate affidavit as prescribed by law.Probate of the estate of an employee may be waived when and in the  manner provided by statute.  Payment to the person appointed by a court  of competent jurisdiction to administer the testate or intestate estate  of a deceased employee or employee annuitant, or to the person filing a  small estate affidavit as prescribed by law, shall be a complete  discharge of the board's obligations under this Article.The board may at its discretion defer payment of refunds for a period  not to exceed one year. If at the end of the year suit is pending  to determine the employee's right to retain his or her former position,  payment of refunds shall be suspended until final disposition of the suit.Any employee who receives a refund shall forfeit all rights to annuity  for himself or herself and for any one who may have any right to  annuity through him or her, and credit for service rendered by him or  her before refund was made. If he or she re-enters service, his or  her status shall be that of an employee who enters service for the first  time but he or she may regain the credits so forfeited by fulfilling  the requirements specified elsewhere in this Article.The board is hereby authorized to write off on its books of account  any pending claim subject to the provisions of this section which  remains unpaid for 2 years or more from the date of death of the  employee or annuitant; provided, however, that when a valid claim is  subsequently filed to the satisfaction of the board in the case of any  account so written off the amount shall be paid in the manner prescribed  herein.(3) Upon the death of an employee while in service or an employee who  had withdrawn from service and was not eligible to receive a pension, the  refund to the beneficiary or estate shall consist of the accumulation from  employee contributions for service annuity, annual increase in retirement  annuity, surviving spouse's service annuity, and interest deficiency, if any,  without interest for employee contributions for the period on and after August  1, 1947.  For the period prior to August 1, 1947, the refund of employee  contributions shall be improved by interest at 4% per annum only. Contributions  by the employer for military or naval service shall not be included in any  refund.  Credits in lieu of salary deductions during ordinary or duty  disability shall be refundable.    (Source: P.A. 86-272; 86-1488; 87-1265.)