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| [ Introduced ] | [ House Amendment 001 ] |
91_SB1047eng SB1047 Engrossed 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 913of 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 24accumulated employee contributions asdetermined 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 SB1047 Engrossed -2- LRB9105902EGfg 1 interest thereon to the date of payment. 2 (Source: P.A. 85-964; 86-1488; revised 10-31-98.)