40 ILCS 5/9-135
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 9 - County Employees' and Officers' Annuity and Benefit Fund - Counties Over 3,000,000 Inhabitants

 (from Ch. 108 1/2, par. 9-135)Sec. 9-135.     Reversionary annuity.(a) An employee, prior to retirement on annuity, may elect to take a  lesser amount of annuity and provide, with the actuarial value of the  amount by which his annuity is reduced, a reversionary annuity for a wife,  husband, parent, child, brother or sister. The option shall be exercised by  filing a written designation with the board prior to retirement, and may be  revoked by the employee at any time before retirement. The death of the  employee prior to his retirement shall automatically void the option.(b) The death of the designated reversionary annuitant prior to the  employee's retirement shall automatically void the option. If the  reversionary annuitant dies after the employee's retirement and before  the death of the employee annuitant, the  reduced annuity being paid to the retired employee annuitant shall be  increased to the amount of annuity before reduction for the reversionary  annuity and no reversionary annuity shall be payable.The option is subject to the further condition that no reversionary  annuity shall be paid if the employee dies before the expiration of 730  days from the date his written designation was filed with the board, even  though he has retired and is receiving a reduced annuity.(c) The employee exercising this option shall not reduce his retirement  annuity by more than $100 a month or by 25%, whichever is the lesser, or  elect to provide a reversionary annuity of less than $50 per month. After  July 1, 1981 the $100 limitation shall not apply.  No  option shall be permitted if the reversionary annuity for a widow, when  added to the widow's annuity payable under this Article, exceeds 80% of the  reduced annuity payable to the employee.(d) A reversionary annuity shall begin on the day following the death of  the employee annuitant, with the first payment to be made on the  first day of the calendar month following the death of the employee  annuitant and the last payment to be made on the first day of the calendar  month in which the reversionary annuitant dies.(e) The increases in annuity provided in Section 9-133 of this Article  shall, as to an employee so electing a reduced annuity, relate to the  amount of the original annuity, and such amount shall constitute the  annuity on which such automatic increases shall be based.(f) The amount of the monthly reversionary annuity shall be determined  by multiplying the amount of the monthly reduction in the employee's  annuity by the factor in the following table based on the age of the  employee and the difference in the age of the employee and the age of the  reversionary annuitant at the starting date of the employee's annuity:    Reversionary Annuitant's Age in Years Younger than Employee   Employee's       30 or      Age 0-4 5-9 10-14 15-19 20-24 25-29 more   50-51 5.32 4.60 4.09 3.61 3.43 3.30 3.09   52-54 4.71 4.04 3.56 3.11 2.96 2.79 2.65   55-57 4.14 3.52 3.08 2.76 2.54 2.38 2.26   58-60 3.62 3.05 2.65 2.36 2.16 2.02 1.91   61-63 3.16 2.63 2.27 2.01 1.83 1.70 1.60   64-66 2.74 2.27 1.94 1.70 1.54 1.43 1.34   67-69 2.40 1.97 1.66 1.45 1.30 1.20 1.12   70 & Over 2.11 1.71 1.43 1.24 1.10 1.01 0.94   In Years Older than Employee   Employee's       31 or      Age 1-5 6-10 11-15 16-20 21-25 26-30 more   50-51 6.31 7.74 9.71 12.44 16.12 20.90 27.23   52-54 5.67 7.01 8.87 11.43 14.90 19.52 25.92   55-57 5.03 6.28 8.03 10.43 13.69 18.16 24.67   58-60 4.44 5.60 7.22 9.44 12.49 16.84 23.50   61-63 3.90 4.97 6.44 8.46 11.30 15.56 22.50   64-66 3.43 4.38 5.69 7.51 10.17 14.33 21.61   67-69 3.03 3.88 5.07 6.75 9.32 13.60 21.83   70 & Over 2.68 3.44 4.52 6.12 8.70 13.34 24.21      (Source: P.A. 86-1488.)