IL HB2824

Amends the Illinois Pension Code to require that annuity payment periods cannot begin prior to termination or more than one year before the board receives a written application for benefits.

Allows pension boards to extend the frequency of disability examinations beyond the annual requirement to a longer period of time as determined by the board.

Requires annuitants who direct the board to pay annuities to financial institutions to hold the board and Fund harmless from claims or losses related to errors regarding federal insurance status of those institutions.