Illinois Statutes
§ 17-126 — Repayment of refund
Illinois·Topic GOVERNMENT·Ch. 40 PENSIONS·Act 40 ILCS 5/ Illinois Pension Code.·Art. Article 17 - Public School Teachers' Pension And Retirement Fund--Cities Of Over 500,000 Inhabitants
If any person who has received a refund is reemployed by an Employer and again becomes a contributor for a period of at least 2 years, or has established credit of at least 2 years of service subsequent to the date of such refund, in a retirement system which has subscribed to the "Retirement Systems Reciprocal Act" and is a contributor thereto, he may repay to the Fund the amount he received as a refund, together with interest thereon at 5% per annum compounded annually from the time the refund was paid to the date of repayment.
Free access — add to your briefcase to read the full text and ask questions with AI
Illinois § 17-126 (Repayment of refund) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 90-566, eff. 1-2-98.)
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 pension