(40 ILCS 5/4-108.3)
(from Ch. 108 1/2, par. 4-108.3)
(a) Until July 1, 1989, any active member of the
Illinois Municipal Retirement Fund who is a county sheriff may apply for
transfer of up to 80 months of creditable service accumulated in any
pension fund established under this Article to the Illinois Municipal
Retirement Fund. Such creditable service shall be transferred only upon
payment by such pension fund to the Illinois Municipal Retirement Fund of
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; and
(2) employer contributions in an amount equal to the amount determined
under subparagraph (1); and
(3) any interest paid by the applicant in order to reinstate service.
Participation in such pension fund as to any credits transferred under
this Section shall terminate on the date of transfer.
(b) Until July 1, 1989, any such sheriff may reinstate creditable
service terminated upon receipt of a refund, by payment to the
firefighters' pension fund of the amount of the refund, with interest
thereon at the rate of 6% per year, compounded annually from the date of
refund to the date of payment.
(Source: P.A. 85-941.)