(40 ILCS 5/5-219) (from Ch. 108 1/2, par. 5-219)
Sec. 5-219.
Park Policemen's Annuity Fund Act superseded.
From January 1, 1960, the fund herein provided for shall supersede
and take the place of the Park Policemen's Annuity Fund established
under the Park Policemen's Annuity Act. The Park Policemen's Annuity
Fund as of such date shall be merged into and become a part of the fund
herein provided for. The fund shall be construed to be a continuation of
such Park Policemen's Annuity Fund and all monies, securities,
properties and any and all other assets of such annuity and benefit
fund, shall, on the first day of January, 1960, be transferred by the
retirement board of the Park Policemen's Annuity Fund to the board of
the fund herein provided for. The board established under this Article
shall receive the aforesaid assets which shall be allocated to the
several reserves created by this Article for the purposes thereof. All
participants of the superseded fund shall have the same rights and
benefits and be subject to the same duties and responsibilities as if
they had originally been participants of this fund from the first date
of employment as members of the active service in the police department
of any park district or as a retirement board employee of such
superseded fund.
All annuities, pensions and other benefits allowed prior to the first
day of January, 1960, by the retirement board of such superseded Park
Policemen's Annuity Fund shall thereafter be assumed and paid from this
fund according to the law under which such annuities, pensions or other
benefits were allowed.
All claims for any annuity, pension or other benefit from such Park
Policemen's Annuity Fund pending or ungranted on January 1, 1960, shall
be allowed or disallowed by the board established under this Article
according to the provisions of the Park Policemen's Annuity Act, and
those which are allowed shall be paid from the fund herein provided for;
provided, that whenever any claim shall hereafter be made or proceedings
at law instituted under any Act in effect prior to January 1, 1960, no
amount of annuities for any prior period shall be allowed or paid for
any period of time greater than a period of one year prior to the date
of the filing of the claim or the date of the institution of such legal
proceedings, the intent being that any annuity or benefit hereafter
granted or ordered under any such superseded Act shall be so granted or
ordered as of the date not more than one year prior to the date of the
filing of the claim for such annuity or benefit or of the institution of
the legal proceedings thereof.
The proceeds of taxes levied for the year 1959 and prior years
pursuant to Section 9 of the Park Policemen's Annuity Act, including
delinquent and uncollected taxes, shall, when collected, be paid by the
county treasurer into the fund herein provided for.
If a retirement board employee for the superseded Park Policemen's
Annuity Fund has not applied for or received a refund of his
contributions prior to January 1, 1960, under Section 37 of the Park
Policemen's Annuity Act, he may thereafter apply for and receive such
refund from the fund created by this Article. If such refunds are not
applied for after January 1, 1960, and any such retirement board
employee is employed by a governmental unit which has accepted the
provisions of the "Retirement Systems Reciprocal Act", approved July 11,
1955, as amended, the amount of such employee's and park district
contributions to his credit which have been transferred to the fund
established by this Article shall, upon request of the retirement board
of the fund in which the employee is a participant, or upon request of
the employee, be transferred by the board to the retirement system in
which the employee is a participant. The service, earnings and contributions
credits
earned by the employee in the superseded Park Policemen's Annuity Fund
shall be preserved, and, in the application of the "Retirement Systems
Reciprocal Act", the retirement system to which such contributions have
been transferred shall grant credit for the service, earnings and contributions
and consider such credits in calculating all benefits.
If any such employee has accepted a
refund of his contributions, upon subsequent employment by a
governmental unit which has accepted the provisions of the "Retirement
Systems Reciprocal Act", he may reinstate his credits earned in the
superseded Park Policemen's Annuity Fund by repayment to the retirement
fund in which he is a participant in the manner and subject to the
conditions of the "Retirement Systems Reciprocal Act", and, in such
case, the retirement system which has received such repayment shall grant
credit for the service, earnings and contributions credited by such superseded
fund and consider such credits in calculating all benefits.
All rights, credits and equities earned under the provisions of the
Park Policemen's Annuity Fund shall be preserved and shall not be
affected or impaired by the supersession of said fund by the city
policemen's annuity fund. Such rights, credits and equities shall be
considered to have accrued and been earned under the provisions of this
Article.
(Source: P.A. 82-783.)
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