40 ILCS 5/2-111

(40 ILCS 5/2-111) (from Ch. 108 1/2, par. 2-111) Sec. 2-111. Annuity. "Annuity": A series of monthly payments payable at the end of each calendar month during the life of an annuitant. The first payment shall be prorated for a fraction of a month to the end of the first month. The last payment shall be made for the whole calendar month in which death occurs. (Source: P.A. 86-273.)