Illinois Administrative Code
Title 80 - PUBLIC OFFICIALS AND EMPLOYEES
Part 1650 - THE ADMINISTRATION AND OPERATION OF THE TEACHERS' RETIREMENT SYSTEM
Subpart E - CONTRIBUTION CREDITS AND PAYMENTS
Section 1650.415 - Return of Optional Increase in Retirement Annuity Contributions
Universal Citation: 80 IL Admin Code ยง 1650.415
Current through Register Vol. 48, No. 38, September 20, 2024
a) A member who has made contributions toward the optional increase in retirement annuity provided in 40 ILCS 5/16-129.1, and who determines such optional annuity increase is not in his or her best financial interest, may elect at retirement not to qualify for such increase in annuity and request a return of the member's optional increase in retirement annuity contributions from the System.
b) Upon such request, the member's optional increase in retirement annuity contributions will be returned to the member without interest.
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