Participation in this Fund as to any credits transferred under this
Section shall terminate on the date of transfer.
(b) An active (and until April 1, 1993, a former) member of the General
Assembly who has service credits and creditable service under the Fund may
establish additional service credits and creditable service for periods during
which he was an elected official and could have elected to participate but did
not so elect. Service credits and creditable service may be established by
payment to the fund of an amount equal to the contributions he would have made
if he had elected to participate, plus interest to the date of payment.
(c) An active (and until April 1, 1993, a former) member of the General
Assembly may reinstate service and service credits 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.
(d) An active member of the General Assembly having no service credits
or creditable service in the Fund may establish service credit and
creditable service for periods during which he was employed by the board of
park commissioners or the retirement board but did not participate in the
Fund, by paying to the Fund prior to July 1, 1992 an amount equal to the
contributions he would have made if he had participated, plus interest
thereon at 6% per annum compounded annually from such period to the date of
payment.
Any active member of the General Assembly may apply for transfer of his
credits and creditable service established under this subsection (d) to any
annuity and benefit fund established under Article 8 of this Act. Such
credits and creditable service shall be transferred forthwith, together
with a payment from this Fund to the designated Article 8 fund consisting
of the amounts accumulated to the credit of the applicant under this
subsection (d), including the corresponding employer contributions and
interest, on the books of the Fund on the date of transfer. Participation
in this Fund as to any credits transferred under this subsection shall
terminate on the date of transfer.
(Source: P.A. 86-1488; 87-1265.)
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