[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_SB0853
LRB9105992EGfg
1 AN ACT to amend the Illinois Pension Code.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Pension Code is amended by
5 changing Section 14-104.7 as follows:
6 (40 ILCS 5/14-104.7) (from Ch. 108 1/2, par. 14-104.7)
7 Sec. 14-104.7. Payments and rollovers.
8 (a) The Board may adopt rules prescribing the manner of
9 repaying refunds and purchasing any optional credits
10 permitted under this Article. The rules may prescribe the
11 manner of calculating interest when such payments or
12 repayments are made in installments.
13 (b) Rollover contributions from other retirement plans
14 qualified under the federal U.S. Internal Revenue Code of
15 1986 may be used to purchase any optional credit or repay any
16 refund permitted under this Article.
17 (Source: P.A. 86-1488.)