This text of Illinois § 7-139.10 (Transfer to Article 4 pension fund) 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.
A person who has elected under Section 4-108.4 to become an active participant in a firefighter pension fund established under Article 4 of this Code may apply for transfer to that Article 4 fund of his or her creditable service accumulated under this Article for municipal firefighter service. At the time of the transfer, the Fund shall pay to the firefighter pension fund an amount equal to:
(1)the amounts accumulated to the credit of the applicant for municipal firefighter service, including interest;
(2)any interest paid by the applicant in order to reinstate that service; and (3) the municipality credits based on that service, including interest. Participation in this fund with respect to the transferred credits shall terminate on the date of transfer. For the purpose of this Section,
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A person who has elected under Section 4-108.4 to become an active participant in a firefighter pension fund established under Article 4 of this Code may apply for transfer to that Article 4 fund of his or her creditable service accumulated under this Article for municipal firefighter service. At the time of the transfer, the Fund shall pay to the firefighter pension fund an amount equal to: (1) the amounts accumulated to the credit of the applicant for municipal firefighter service, including interest; (2) any interest paid by the applicant in order to reinstate that service; and (3) the municipality credits based on that service, including interest. Participation in this fund with respect to the transferred credits shall terminate on the date of transfer. For the purpose of this Section, "municipal firefighter service" means service with the fire department of a participating municipality for which the applicant established creditable service under this Article.