(40 ILCS 5/2-117)
(from Ch. 108 1/2, par. 2-117)
Participants - Election not to participate.
(a) Every person who was a member on November 1, 1947, or in military
service on such date, is subject to the provisions of this system beginning
upon such date, unless prior to such date he or she filed with the board a
written notice of election not to participate.
Every person who becomes a member after November 1, 1947, and who is
then not a participant becomes a participant beginning upon the date of
becoming a member unless, within 24 months from that date, he or she has
filed with the board a written notice of election not to participate.
(b) A member who has filed notice of an election not to participate
(and a former member who has not yet begun to receive a retirement
annuity under this Article) may become a participant with respect to the period
for which the member elected not to participate upon filing with the board,
before April 1, 1993, a written rescission of the election not to participate.
Upon contributing an amount equal to the contributions he or she would have
made as a participant from November 1, 1947, or the date of becoming a member,
whichever is later, to the date of becoming a participant, with interest at the
rate of 4% per annum until the contributions are paid, the participant shall
receive credit for service as a member prior to the date of the rescission,
both before and after November 1, 1947. The required contributions shall be
made before commencement of the retirement annuity; otherwise no credit for
service prior to the date of participation shall be granted.
(Source: P.A. 86-273; 87-1265.)