(b) The definitions in Article 7 of the Illinois Pension Code also apply to this Section. As used in this Section, "disclosable payment" means a payment, whether in the form of an increase in the rate of earnings or a lump-sum payment, that:
(1) would be made by a participating employer to a participating employee after the employee has expressed to the employer his or her intent to retire or withdraw from service;(2) would have the effect of increasing the employee's reportable monthly earnings from that employer by more than 6% compared to the previous month; and(3) would be made between 12 months and 90 days prior to the employee's expected termination of service. "Disclosable payment" also includes accumulated sick leave.
However, "disclosable payment" does not include a refund of contributions or any payment required to be paid by State or federal law.