40 ILCS 5/ Illinois Pension Code.

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40 ILCS 5/Art. 22 Div. 9

(40 ILCS 5/Art. 22 Div. 9 heading) DIVISION 9.

GENERAL

40 ILCS 5/22-901

(40 ILCS 5/22-901) (from Ch. 108 1/2, par. 22-901)

Sec. 22-901.

General provisions and savings clause.


The provisions of Article 1 and Article 23 of this Code apply to each
Division of this Article as though such provisions were fully set forth in
each Division of this Article as a part thereof.

(Source: Laws 1963, p. 161.)

40 ILCS 5/22-901.1

(40 ILCS 5/22-901.1) (from Ch. 108 1/2, par. 22-901.1)

Sec. 22-901.1.

Actuarial tables defined.

Tabular listings of assumed rates of decrement representing such factors
as death, disability, separation from service, and ages of retirement,
according to sex and ages of members of the retirement systems, together
with mathematical functions derived from rates of probability combined with
an interest discount factor that may be adopted by a board of trustees or
retirement board upon recommendation of a qualified actuary based upon the
experience of the pension fund or retirement system.

(Source: P.A. 77-1200.)

40 ILCS 5/22-901.2

(40 ILCS 5/22-901.2) (from Ch. 108 1/2, par. 22-901.2)

Sec. 22-901.2.

Adjustment of retirement annuity under reversionary annuity
option.

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.)