40 ILCS 5/13-301
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 13 - Metropolitan Water Reclamation District Retirement Fund

 (from Ch. 108 1/2, par. 13-301)Sec. 13-301. Retirement annuity; eligibility.  Any employee who  withdraws from service and meets the age and service requirements and other  conditions set forth in subsections (a), (b), (c) or (d) hereof is entitled  to receive a retirement annuity.(a) Withdrawal on or after age 60.  Any employee, upon withdrawal from  service on or after attainment of age 60 and having at least 5 years of  service, is entitled to a retirement annuity.(b) Withdrawal on or after attainment of minimum retirement  qualifications and prior to  age 60.(1) Any employee, upon withdrawal from service on or     after attainment of age 55 (age 50 if the employee first entered service before June 13, 1997) but prior to age 60 and having at least 10 years of service, is entitled to a retirement annuity as of the date of withdrawal or, at the option of the employee, at any time thereafter.(2) Any employee who withdraws on or after attainment     of age 55 (age 50 if the employee first entered service before June 13, 1997) and prior to age 60 having at least 5 years but less than 10 years of service is entitled to a retirement annuity upon attainment of age 62, subject to the other requirements of this Article.(3) Any employee who withdraws from service on or     after attainment of age 50 but prior to age 60 and is eligible for early retirement without discount under the Rule of 80 as provided in subsection (c) of Section 13-302 is entitled to a retirement annuity at the time of withdrawal.(c) Withdrawal prior to minimum retirement age.  Any employee,  upon withdrawal from service prior to age 55 (age 50 if the employee  first entered service before June 13,  1997) and having at least 10 years of service, shall become entitled to a  retirement annuity upon attainment of age 55 (age 50 if the employee  first entered service before June 13,  1997) or, at the option of the employee, at any time thereafter, subject to  the other requirements of this Article.(d) Withdrawal while disabled.  Any employee having at least 5 years of  service who has received ordinary disability benefits on or after January  1, 1986 for the maximum period of time hereinafter prescribed, and who  continues to be disabled and withdraws from service, shall be entitled to a  retirement annuity.  In the case of an employee who enters service after  the effective date of this amendatory Act of the 94th General Assembly, the  required 5 years of service is exclusive of service credit described in  Section 13-313.  The age and service conditions as to eligibility for  such annuity shall be waived as to the employee, but the early retirement  discount under Section 13-302(b) shall apply.  If the employee is under age  55 on the date of withdrawal, the retirement annuity shall be computed by  assuming that the employee is then age 55 and then reduced to its actuarial  equivalent at his attained age on that date according to applicable  mortality tables and interest rates.  The retirement annuity shall not be  payable for any period prior to the employee's attainment of age 55 during  which the employee is able to return to gainful employment.  Upon the employee's death while in  receipt of a retirement annuity, a surviving spouse or minor children shall  be entitled to receive a surviving spouse's annuity or child's annuity  subject to the conditions hereinafter prescribed in Sections 13-305 through  13-308.         (Source: P.A. 94-621, eff. 8-18-05.)