Illinois General Assembly - Illinois Compiled Statutes

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40 ILCS 5/14-104.12

(40 ILCS 5/14-104.12)

Sec. 14-104.12. Early termination incentives under the State Finance Act.

Notwithstanding any other provision of this Article and notwithstanding that they may be  payable from a personal services line item, early termination incentives paid under Section 14a.5 of the State Finance Act:

(1) shall not be included in, and do not affect the

calculation of, compensation or final average compensation under this Article;

(2) do not entitle the recipient to establish any

additional service credit under this Article;

(3) do not require and shall not result in the

payment of any employee or employer contributions under this Article; and

(4) have no effect under this Article except to

disqualify the recipient from receiving the alternative retirement cancellation payment under Section 14-108.5.

(Source: P.A. 93-839, eff. 7-30-04.)