(40 ILCS 5/7-139.8)
(from Ch. 108 1/2, par. 7-139.8)
Transfer to Article 14 System.
(a) Any active member of the State Employees' Retirement System who is a State policeman, an investigator for the Secretary of State, a conservation police officer, an investigator for the Office of the Attorney General, an investigator for the Department of Revenue, an
investigator for the Office of the State's Attorneys Appellate Prosecutor,
or a controlled substance inspector
may apply for transfer of some or all of his or her credits and creditable service
accumulated in this Fund for service as a sheriff's law enforcement
employee, person employed by a participating municipality to perform police duties, or law enforcement officer employed on a full-time basis by a forest preserve district to the State Employees' Retirement System in accordance with
Section 14-110. The creditable service shall be transferred only upon payment
by this Fund to the State Employees' Retirement System of an amount equal to:
(1) the amounts accumulated to the credit of the
applicant for the service to be transferred, including interest; and
(2) municipality credits based on such service,
(3) any interest paid by the applicant to reinstate
Participation in this Fund as to any credits transferred under this
Section shall terminate on the date of transfer.
(b) Any person applying to transfer service under this Section may reinstate credits and
creditable service terminated upon receipt of a separation benefit, by paying
to the Fund the amount of the separation benefit plus interest thereon at the actuarially assumed rate of interest
to the date of payment.
(Source: P.A. 95-530, eff. 8-28-07; 96-745, eff. 8-25-09.)