(40 ILCS 5/9-121.13)
Sec. 9-121.13.
Transfer of Article 5
credits.
(a) An active participant in the Fund who was employed by the office of
the Cook County State's Attorney on January 1, 1995 may transfer to this Fund
credits and creditable service accumulated under the pension fund established
under Article 5 of this Code, as provided in Section 5-237, by submitting a
written application to the Fund and paying to the Fund the amount, if any,
by which the amount transferred to the Fund under Section 5-237 is less than
the amount of employee and employer contributions that would have been received
by the Fund if the service being transferred had been served as a participant
of this Fund, including interest at the rate of 6% per year, compounded
annually, from the date of the service to the date of payment.
(b) Until July 1, 1998, an active participant in the Fund who is a member
of the county police department may transfer to
this Fund credits and creditable service accumulated under the pension fund
established under Article 5 of this Code, as provided in Section 5-237, by
submitting a written application to the Fund and paying to the Fund the amount,
if any, by which the amount transferred to the Fund under Section 5-237 is less
than the amount of employee and employer contributions that would have been
received by the Fund if the service being transferred had been served as a
participant of this Fund, including interest at the rate of 6% per year,
compounded annually, from the date of the service to the date of payment.
(c) The applicant may elect to have the service transferred be deemed
service as a member of the county police department; if the applicant so
elects, the required payment shall be calculated on the basis of the rates
applicable to members of the county police department.
(Source: P.A. 89-136, eff. 7-14-95; 90-32, eff. 6-27-97.)
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