"Jason came up with this idea, which is just so good, everybody got it right away and understood. It will connect, better than anything, to the first movie," Aykroyd told GameSpot.
"That's about all I can say about it, but the two movies will connect, in a way that hasn't been done before."
Reitman is keeping story details under wraps, but did tease a mysterious connection between the old cast and a new family, played by Mckenna Grace (Captain Marvel), Finn Wolfhard (Stranger Things) and Carrie Coon (Avengers: Infinity War).
"This is what I'll say. You don't know their connection, and they don't know their connection yet either," Reitman said.
The Juno filmmaker has also unearthed original Ghostbusters footage for reasons the writer-director can't say.
Aykroyd was visibly excited when introducing Reitman at Ghostbusters Fan Fest, where Aykroyd and the elder Reitman praised the "extraordinary" script turned in by Jason Reitman and co-writer Gil Kenan (Monster House, Poltergeist).
"You may have heard that a very fine director has written this extraordinary script," Ivan Reitman said. "It has really blown us all away, blown Sony away, and he's gonna deliver this extraordinary movie for 2020."
Aykroyd is expected to appear in the sequel alongside original co-stars Bill Murray, Ernie Hudson, Sigourney Weaver and Annie Potts.
"Ivan Reitman's son Jason has written a beautiful script, I can't say too much about it but it's going to get made and hopefully there'll be some familiar faces," Aykroyd previously told The Canadian Press.
"It's so different from even the first and second [film]. This just takes it to a new generation and a new direction that is so warm, heartfelt and indeed, quite scary when you confront some of the issues that are being discussed."
Sony Pictures releases GB20 July 10, 2020.