Illinois General Assembly - Full Text of Public Act 098-1078
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Public Act 098-1078





Public Act 098-1078
HB5592 EnrolledLRB098 17314 EFG 52408 b

    AN ACT concerning public employee benefits.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The Illinois Pension Code is amended by changing
Section 7-145 as follows:
    (40 ILCS 5/7-145)  (from Ch. 108 1/2, par. 7-145)
    Sec. 7-145. Reversionary annuities.
    (a) An employee entitled to a retirement annuity may elect
to provide a reversionary annuity for a beneficiary if, at the
time such retirement annuity begins:
        1. Under the provisions of paragraph (a) 1 of Section
    7-142 he is entitled to an immediate annuity of at least
    $10 per month; and
        2. His accumulated additional and optional credits are
    sufficient to provide a reversionary annuity, of at least
    $10 per month, for the beneficiary.
    (b) An election shall become effective only:
        1. If a written notice thereof by the employee is
    received by the board together with his application for
    retirement annuity; and
        2. If the amount of the beneficiary's reversionary
    annuity specified in the notice is not less than $10 nor
    more than that which can be provided, at the time of
    election, by the accumulation of additional and optional
    (c) The amount of the reversionary annuity shall be that
specified in the notice of election.
    (d) Reversionary annuity shall begin the first day of the
month following the month in which the last payment of the
employee annuity is payable because of death, provided the
beneficiary is alive at such time. If the beneficiary does not
survive the annuitant, no reversionary annuity shall be
payable, but only the death benefit as provided in Sections
7-163 and 7-164.
    (e) Any election made under this Section shall be
irrevocable by the employee.
(Source: P.A. 90-448, eff. 8-16-97.)
    Section 99. Effective date. This Act takes effect January
1, 2015.

Effective Date: 1/1/2015