(40 ILCS 5/16-131.1)
(from Ch. 108 1/2, par. 16-131.1)
Transfer of creditable service to the General Assembly
(a) An active member of the General Assembly Retirement System, and
until May 1, 1993, any person having service credit therein, may apply
to transfer all or any part of his or her creditable service accumulated under
this system to the General Assembly Retirement System. The specified
creditable service shall be transferred upon application. Payment by this
system to the General Assembly Retirement System shall be made at the same time
and shall consist of:
(1) the amounts credited to the member through member
contributions for the service to be transferred, including interest if applicable, as of the date of transfer, but excluding any additional or optional contributions, which shall be refunded to the member; and
(2) employer contributions equal in amount to the
accumulated member contributions as determined in subparagraph (1).
Participation in this system with respect to the transferred credits
shall terminate on the date of transfer.
(b) An active member of the General Assembly who has creditable service
under the system may establish additional creditable service for periods
during which he or she was an elected official and could have elected to
participate but did not so elect. Creditable service may be established by
payment to the system of an amount equal to the contributions that would
have been made if the person had elected to participate, plus interest at the
rate specified under subsection (a) of Section 16-128 to the date of payment.
(c) An active member of the General Assembly, and until May 1, 1993,
any person having service credit in the General Assembly Retirement System,
may reinstate creditable service terminated upon receipt of a refund, by
payment to the system of the amount of the refund together with interest
thereon at the rate specified under subsection (a) of Section 16-128 to the
date of payment.
(Source: P.A. 87-1265.)