(40 ILCS 5/8-172.1)
Sec. 8-172.1. Transfer of city contributions for paramedics.
(a) Municipality credits computed and credited under this Article 8 for all
persons who (1) accumulated service credit in this Article 8 fund for service
as a paramedic, (2) have terminated that Article 8 service credit and received
a refund of contributions, and (3) are participants in the Article 6 fund on
the effective date of this amendatory Act of the 96th General Assembly shall
be transferred by this Article 8 fund to the Article 6 fund together with
interest at the actuarially assumed rate, compounded annually, to the date of
transfer. The city shall not be responsible for making any additional employer
contributions to the Fund to replace the amounts transferred under this
Section.
(b) Municipality credits computed and credited under this Article 8 for all
persons who (1) accumulated service credit in this Article 8 fund for service
as a paramedic, (2) have terminated that Article 8 service credit and received
a refund of contributions, and (3) are not participants in the Article 6 fund
on the effective date of this amendatory Act of the 93rd General Assembly shall
be used as provided in Section 8-172.
(Source: P.A. 96-727, eff. 8-25-09.) |