(40 ILCS 5/3-110.5)
(from Ch. 108 1/2, par. 3-110.5)
Transfer to Article 14 system.
(a) Until January 1, 1990, any active member of the State Employees'
Retirement System who is a State policeman and until July 1, 1998, any active
member of the State Employees' Retirement System who is a security employee of
the Department of Corrections may apply for transfer of his or her
creditable service accumulated in any police pension fund under this
Article to the State Employees' Retirement System. Such creditable service
shall be transferred only upon payment by such police pension fund to the State
Employees' Retirement System of an amount equal to:
(1) the amounts accumulated to the credit of the
Participation in this Fund shall terminate on the date of transfer.
(b) Until January 1, 1990, any such State policeman and until July 1,
1998, any such security employee of the Department of Corrections may
reinstate service which was terminated by receipt of a refund, by payment to
the police pension fund of the amount of the refund with interest thereon at
the rate of 6% per year, compounded annually, from the date of refund to the
date of payment.
(Source: P.A. 90-32, eff. 6-27-97.)