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| [ Introduced ] | [ Senate Amendment 001 ] |
91_HB1581eng HB1581 Engrossed 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 913of 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 HB1581 Engrossed -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.