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| [ Engrossed ] | [ Senate Amendment 001 ] |
91_HB1581
LRB9101660EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 18-112.2.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 18-112.2 as follows:
7 (40 ILCS 5/18-112.2) (from Ch. 108 1/2, par. 18-112.2)
8 Sec. 18-112.2. Transfer of creditable service to Article
9 8, 9 or 13 Fund.
10 (a) Any city officer as defined in Section 8-243.2 of
11 this Code, any county officer elected by vote of the people
12 who is a participant in the pension fund established under
13 Article 9 13 of this Code, and any elected sanitary district
14 commissioner who is a participant in a pension fund
15 established under Article 13 of this Code, may apply for
16 transfer of his or her credits and creditable service
17 accumulated under this System to such Article 8, 9 or 13
18 fund. Such creditable service shall be transferred
19 forthwith. Payment by this System to the Article 8, 9 or 13
20 fund shall be made at the same time, and shall consist of:
21 (1) the amounts credited to the applicant through
22 employee contributions, including interest if applicable,
23 on the date of transfer; and
24 (2) employer contributions equal to the accumulated
25 employee contributions as determined under clause (1)
26 above.
27 Participation in this System shall terminate on the date of
28 transfer.
29 (b) Any such elected city officer, county officer or
30 sanitary district commissioner may reinstate credits and
31 creditable service terminated upon receipt of a refund, by
-2- LRB9101660EGfg
1 repaying to the System the amount of the refund together with
2 interest thereon to the date of payment.
3 (Source: P.A. 85-964; 86-1488; revised 10-31-98.)
4 Section 99. Effective date. This Act takes effect upon
5 becoming law.