Board Resolution 2021-05-12(f)

WHEREAS, retirement annuity initial payments are issued after an employee has terminated service; and

WHEREAS, in the normal course the initial retirement benefit is paid 15 to 30 days after an employee has terminated service, but additional delay may occur by reason of adjustment of employee’s earnings, establishing prior service records and other service credit adjustments or because of delay in receiving payroll information from the employing municipality; and

WHEREAS, a participating employee may die after termination of service but before the initial payment of the retirement annuity.

RESOLVED, that the following rules and regulations apply to payment of death benefits on behalf of a member who dies while the retirement is pending:

1. If the applicant for a retirement annuity is living on the day the initial benefit payment is made by IMRF, he shall be considered to be an annuitant and the charges for the retirement annuity shall be made in the normal manner. The death benefits shall be those payable upon the death of an annuitant as described in Section 7-164;
2. If a participating employee applies for a retirement annuity but dies before the date of termination of employment, the death benefits shall be those payable upon the death of an employee occurring while in an employment relationship with a participating employer as described in Section 7-164;
3. If an employee dies after the termination date but before receiving the first retirement annuity payment, the death benefits shall be those payable upon the death of an employee who has separated from service and was entitled to a retirement annuity on the date of death as described in Section 7-164.