(40 ILCS 5/7-139.6) (from Ch. 108 1/2, par. 7-139.6)
Sec. 7-139.6.
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 a 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 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 |
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, 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 Fund
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 Fund of an
amount equal to the contributions he would have made if he had elected to
participate, plus interest thereon to the date of payment. The limitations
in subparagraph (c) of Section 7-139 of this Article shall not
apply to payments made under this Section.
(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 separation benefit, by payment to
the Fund of the amount of the separation benefit plus interest thereon at
the rate of 6% per year to the date of payment.
(Source: P.A. 89-643, eff. 8-9-96.)
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