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91_HB2362 LRB9105245EGfg 1 AN ACT to amend the Illinois Pension Code by changing 2 Section 14-104.7. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Illinois Pension Code is amended by 6 changing Section 14-104.7 as follows: 7 (40 ILCS 5/14-104.7) (from Ch. 108 1/2, par. 14-104.7) 8 Sec. 14-104.7. Payments and rollovers. 9 (a) The Board may adopt rules prescribing the manner of 10 repaying refunds and purchasing any optional credits 11 permitted under this Article. The rules may prescribe the 12 manner of calculating interest when such payments or 13 repayments are made in installments. 14 (b) Rollover contributions from other retirement plans 15 qualified under the federal
U.S.Internal Revenue Code of 16 1986 may be used to purchase any optional credit or repay any 17 refund permitted under this Article. 18 (Source: P.A. 86-1488.) 19 Section 99. Effective date. This Act takes effect upon 20 becoming law.
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