State Universities Retirement System definition

State Universities Retirement System means the retirement system established by "An Act to Provide for the creation, maintenance, and administration of a Retirement System for the benefit of the staff members of the State Universities and certain affiliated organizations, certain other State educational and scientific agencies and the survivors, dependents, and other beneficiaries of such employees" approved on July 21, 1941, as amended.

Examples of State Universities Retirement System in a sentence

  • An employee on compensated leave may continue to contribute toward and receive the benefits of any state or Board insurance program and may continue to contribute toward and receive retirement credit in the State Universities Retirement System if the laws, rules, regulations, policies, and procedures governing the administration of such insurance programs or the State Universities Retirement System so permit.

  • The cost of the benefits under University-sponsored Insurance Plans and State Universities Retirement System are borne in part by the Employer and in part by the employee.

  • Retirement benefits are extended pursuant to the State Universities Retirement System Statute.

  • Disability income benefits are available to employees under: (1) the Illinois Worker’s Compensation and Occupational Diseases Act; (2) the University of Illinois Sick Leave Plan; and (3) the State Universities Retirement System.

  • Employees who have served continuously on a full-time basis for ten (10) years and are eligible for an annuity under the State Universities Retirement System which was created, and is governed by Article 15 of the Illinois Pension Code, Ill.

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