(40 ILCS 5/5-235) (from Ch. 108 1/2, par. 5-235)
Sec. 5-235.
(a) Until July 1, 1990, any active or inactive
member of the Illinois
Municipal Retirement Fund who has been a county sheriff may apply for transfer of
his creditable service accumulated under this
Article to the Illinois Municipal Retirement Fund. Such creditable service
shall be transferred only upon payment by the Fund to the
Illinois Municipal Retirement Fund of an amount equal to:
(1) the amounts accumulated to the credit of the applicant on the books
of the Fund on the date of transfer; and
(2) municipality credits computed and credited under this Article,
including interest, on the books of the Fund on the date the member
terminated service under the Fund; and
(3) any interest paid by the applicant in order to reinstate service.
Participation in this Fund shall terminate on the date of transfer.
(b) Until July 1, 1990, any person transferring credit under this
Section may reinstate service
which was terminated by receipt of a refund, by payment to the Fund
of the amount of the refund with interest thereon at the rate
of 6% per year, compounded annually, from the date of refund to the date
of payment.
(Source: P.A. 86-273; 86-1028.)
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