(40 ILCS 5/18-112.6)
Sec. 18-112.6.
Service credit for member of educational board.
Until July
1, 1998, an active participant in this System who has at least 6 years of
service as a judge may establish up to 2 years of service credit in this System
for a period during which the participant held elective office as a member of a
board of education in this State or a member of the board of trustees of a
community college district in this State, by applying to the Board in
writing and paying to the System an amount equal to (1) employee contributions
based on the rate in effect for a judge on the date of becoming a participant
in this System and the salary received by the judge on that date, plus (2) the
employer's share of the normal cost of the benefits being established, plus (3)
interest thereon at the prescribed rate, compounded annually, from the date
of membership to the date of payment. However, credit may not be established
under this Section for any period for which the judge has received credit under
any other pension fund or retirement system subject to this Code, unless that
credit has been terminated.
(Source: P.A. 90-448, eff. 8-16-97.)
|