(40 ILCS 5/22-901.2)
(from Ch. 108 1/2, par. 22-901.2)
Adjustment of retirement annuity under reversionary annuity
Any member or participant of a pension fund or retirement system covered
by the provisions of this Code who elects a reversionary annuity option
shall have his retirement annuity otherwise payable to him reduced by the
actuarial equivalent of the amount required to provide the reversionary
annuity according to the applicable ages of the member or participant and
the reversionary annuity beneficiary.
The term "actuarial equivalent" shall mean an annuity or benefit of
equal value to an annuity or benefit or accumulated contributions when
computed according to the actuarial tables in effect for the pension fund
or retirement system.
(Source: P.A. 77-1468.)