Illinois Statutes
§ 17-114.3
Illinois § 17-114.3
JurisdictionIllinois
TopicGOVERNMENT
Ch. 40PENSIONS
Act 40 ILCS 5/Illinois Pension Code.
Art.Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants
This text of Illinois § 17-114.3 is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
40 Ill. Comp. Stat. 17-114.3 (2026).
Text
(a)Persons otherwise required or eligible to participate in the Fund who elect to continue participation in the General Assembly System under Section 2-117.1 may not participate in the Fund for the duration of such continued participation under Section 2-117.1.
(b)Upon terminating such continued participation, a person may transfer credits and creditable service accumulated under Section 2-117.1 to this Fund, upon payment to the Fund of the amount by which (1) the employer and employee contributions that would have been required if he had participated in this Fund during the period for which credit under Section 2-117.1 is being transferred, plus interest thereon at 6% per annum compounded annually from the date of such participation to the date of payment, exceeds (2) the amounts actual
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Legislative History
(Source: P.A. 86-272.)
Nearby Sections
15
§ 17-101
Creation of fund§ 17-102
Terms defined§ 17-103
Actuarial equivalent§ 17-104
Board§ 17-105
Board of Education§ 17-105.1
Employer§ 17-106
Contributor, member or teacher§ 17-106.1
Administrator§ 17-107
Creditable service§ 17-108
Fiscal year and school year§ 17-109
Fund§ 17-109.1
Pension deferred§ 17-109.2
Pension pending period§ 17-110
Pension period§ 17-111
Reversionary pensionCite This Page — Counsel Stack
Bluebook (online)
Illinois § 17-114.3, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/40/17-114.3.