IL HB5592

Amends Section 7-145 of the Illinois Pension Code regarding reversionary annuities for public employees.

Removes the requirement that an employee's written election notice must be received together with their retirement annuity application, allowing elections to be submitted at other times.

Changes the timing requirement for determining annuity sufficiency from "at the time such retirement annuity begins" to "at the time of election."

Makes all elections under this Section irrevocable by the employee once made.

Effective January 1, 2015.