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| [ Engrossed ] | [ House Amendment 001 ] |
91_SB1047
LRB9105902EGfg
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 18-112.2 as follows:
6 (40 ILCS 5/18-112.2) (from Ch. 108 1/2, par. 18-112.2)
7 Sec. 18-112.2. Transfer of creditable service to Article
8 8, 9 or 13 Fund.
9 (a) Any city officer as defined in Section 8-243.2 of
10 this Code, any county officer elected by vote of the people
11 who is a participant in the pension fund established under
12 Article 9 13 of this Code, and any elected sanitary district
13 commissioner who is a participant in a pension fund
14 established under Article 13 of this Code, may apply for
15 transfer of his or her credits and creditable service
16 accumulated under this System to such Article 8, 9 or 13
17 fund. Such creditable service shall be transferred
18 forthwith. Payment by this System to the Article 8, 9 or 13
19 fund shall be made at the same time, and shall consist of:
20 (1) the amounts credited to the applicant through
21 employee contributions, including interest if applicable,
22 on the date of transfer; and
23 (2) employer contributions equal to the amount
24 accumulated employee contributions as determined under
25 clause (1) above.
26 Participation in this System shall terminate on the date of
27 transfer.
28 (b) Any such elected city officer, county officer or
29 sanitary district commissioner may reinstate credits and
30 creditable service terminated upon receipt of a refund, by
31 repaying to the System the amount of the refund together with
-2- LRB9105902EGfg
1 interest thereon to the date of payment.
2 (Source: P.A. 85-964; 86-1488; revised 10-31-98.)