§ 9-121.10 — Transfer to Article 14

Illinois § 9-121.10

• Jurisdiction: Illinois
• Topic: GOVERNMENT
• Ch. 40: PENSIONS
• Act 40 ILCS 5/: Illinois Pension Code.
• Art.: Article 9 - County Employees' and Officers' Annuity and Benefit Fund - Counties Over 3,000,000 Inhabitants

Text

(a) Any active member of the State Employees' Retirement System who is a State policeman, investigator for the Office of the Attorney General, an investigator for the Department of Revenue, investigator for the Illinois Gaming Board, arson investigator, investigator for the Secretary of State, or conservation police officer may apply for transfer of some or all of his creditable service as a member of the County Police Department, a county corrections officer, or a court services officer accumulated under this Article to the State Employees' Retirement System in accordance with Section 14-110. At the time of the transfer the Fund shall pay to the State Employees' Retirement System an amount equal to: (1) the amounts accumulated to the credit of the applicant on the books of the Fund on the date of transfer for the service to be transferred; and (2) the corresponding municipality credits, including interest, on the books of the Fund on the date of transfer; and (3) any interest paid by the applicant in order to reinstate such service. Participation in this Fund with respect to the credits transferred shall terminate on the date of transfer. (b) Any person applying to transfer service under this Section may reinstate credit for service as a member of the County Police Department that was terminated by receipt of a refund, by paying to the Fund the amount of the refund with interest thereon at the actuarially assumed rate of interest, compounded annually, from the date of refund to the date of payment.

Legislative History

(Source: P.A. 102-856, eff. 1-1-23 .)