(40 ILCS 5/6-226) (from Ch. 108 1/2, par. 6-226)
Sec. 6-226.
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,
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 in this Fund to
such Article 8, 9 or 13 fund. Such creditable service shall be
transferred forthwith. Payment by this Fund 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 interest, on the |
| books of the Fund on the date of transfer, but excluding any additional or optional credits, which credits shall be refunded to the applicant; and
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(2) municipality credits computed and credited under this Article, including interest,
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| on the books of the Fund on the date the member terminated service under the Fund.
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Participation in this Fund as to any
credits transferred under this Section shall terminate on the date of transfer.
(b) Any such elected city officer, county officer or sanitary
district commissioner may reinstate credits and creditable service
terminated upon receipt of a separation benefit, by payment to the Fund of
the amount of the separation benefit plus interest thereon to the
date of payment.
(Source: P.A. 85-964; 86-1488.)
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