(40 ILCS 5/2-117.2)
(from Ch. 108 1/2, par. 2-117.2)
Transfer of creditable service to Article 8, 9 or 13
(a) Any city officer as defined in Section 8-243.2 of this Code,
any county officer elected by vote of the
people who is a participant in a pension fund established under Article 9
of this Code, and any elected sanitary district commissioner who is a
participant in a pension fund established under Article 13 of this Code,
may apply for transfer of his or her creditable service accumulated under
this System to such Article 8, 9 or 13 fund. Such creditable service
shall be transferred forthwith. Payment by this System to the Article
8, 9 or 13 fund shall be made at the same time and shall consist of:
(1) the amounts credited to the participant under
this System through participant contributions, including interest, if any, on the date of the transfer, but excluding any additional optional credits, which credits shall be refunded to the participant; plus
(2) employer contributions in an amount equal to the
amount determined under clause (1).
Participation in this System as to any credits
transferred under this Section shall terminate on the date of transfer.
(b) Any such elected city officer, county officer or sanitary
district commissioner who has credits and creditable service under the
System may establish additional credits and creditable service for periods
during which he could have elected to participate but did not so elect.
Credits and creditable service may be established by payment to the System
of an amount equal to the contributions he would have made if he had
elected to participate, plus interest to the date of payment.
(c) Any such elected city officer, county officer or sanitary
district commissioner may reinstate credits and creditable service
terminated upon receipt of a refund, by payment to the System of the amount
of the refund plus interest thereon to the date of payment.
(Source: P.A. 85-964; 86-1488.)