(40 ILCS 5/14-105.5) (from Ch. 108 1/2, par. 14-105.5)
Sec. 14-105.5.
Transfer of creditable service to Article 8, 9 or 13
Fund.
(a) Any city officer as defined in Section 8-243.2
of this Code, any county officer elected by vote of the people
who is a participant in the pension fund established under Article 9 of
this Code, any chief of the County Police Department or undersheriff of
the County Sheriff's Department who has elected under subparagraph (j) of
Section 9-128.1 to be included within the provisions of Section 9-128.1 of
Article 9 of this Code, and any elected sanitary district commissioner who is
a participant in a pension fund established under Article 13 of this Code,
may apply for transfer of his credits and creditable service accumulated
under this System to such Article 8, 9 or 13 fund. Such creditable service
shall be transferred forthwith. Payment by this System to the Article
8, 9 or 13 fund shall be made at the same time and shall consist of:
(1) the amounts accumulated to the credit of the applicant, including regular interest, |
Participation in this System as to any credits transferred under this
Section shall terminate on the date of transfer.
(b) Any such elected city officer, county officer, chief of the County
Police Department, undersheriff of the County Sheriff's Department, or
sanitary district commissioner who has credits and creditable service under the
System may establish additional credits and creditable service for periods
during which he could have elected to participate but did not so elect.
Credits and creditable service may be established by payment to the System of
an amount equal to the contributions he would have made if he had elected to
participate, plus regular interest to the date of payment.
(c) Any such elected city officer, county officer, chief of the County
Police Department, undersheriff of the County Sheriff's Department, or
sanitary
district commissioner may reinstate credits and creditable service
terminated upon receipt of a refund, by payment to the System of the amount
of the refund plus regular interest thereon to the date of payment.
(Source: P.A. 89-643, eff. 8-9-96.)
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