| Topic: | Surviving Spouse Benefit |
| Subtopic: | Surviving spouse refund repayment window |
| Date: | 3/20/2020 |
| Status: | Active |
WHEREAS, Public Act 101-0610, effective January 1, 2020, created Section 7-159(d) of the Pension Code which provides rules relating to refunds of survivor credits; and
WHEREAS, Public Act 101-0610 permits eligible surviving spouses to repay the previously refunded surviving spouse credits in order to establish eligibility for a surviving spouse annuity during a one-year window beginning May 1, 2020; and
WHEREAS, it is necessary to adopt rules for the efficient administration of Section 7-159(d).
THEREFORE BE IT RESOLVED that the following administrative rules be and are hereby adopted by the Board of Trustees:
- To establish eligibility for a surviving spouse annuity under 40 ILCS 5/7-159(d), payment may be made by making a lump sum payment of the refunded survivor credits with interest calculated to the date of payment. Multiple or partial payments will be rejected and returned to the applicant.
- Payment must be received in IMRF offices no later than April 30, 2021 in order to establish eligibility under Section 7-159(d).