Section 1600.230  Election to Pay Contributions Based Upon Employment Which Preceded Certification as a Participant

Under the provisions of the Illinois Pension Code, a participant may elect to pay contributions plus interest thereon at the rate established by the Illinois Pension Code covering any period of employment after August 31, 1941, at one-half time or more for an employer covered by the State Universities Retirement System, which preceded the date that he became a participant and any period of full-time employment with the United States government, the government of a state, a political subdivision of a state, or an agency or instrumentality of any of the foregoing, which preceded the date that he became a participant, if he has met the conditions set forth in the Illinois Pension Code.  The participant may purchase, during the fiscal year in which his employment terminates or in which his retirement annuity begins, not less than ¼ year of additional service credit for such employment.  If he elects to purchase such credit prior to the fiscal year in which his employment terminates, he must purchase at least one year of additional service credit, unless the total service credit which he is entitled to purchase on a basis of this employment is less than one year.  No payment may be accepted for this service after the date the participant begins receiving a retirement annuity.

(Source:  Amended at 13 Ill. Reg. 18939, effective November 21, 1989; recodified from Section 1600.50 to Section 1600.230 at 31 Ill. Reg. 10194)