(40 ILCS 5/4-108.2)
(from Ch. 108 1/2, par. 4-108.2)
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 credits and creditable service accumulated in
any firefighters' pension fund established under this Article to such
Article 8, 9 or 13 fund. Such transfer shall be made forthwith.
Payment by the firefighters' pension fund 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 applicant through
employee contributions; and
(2) municipality contributions equal to the
accumulated employee contributions as determined under (1) above.
Participation in the firefighters' pension fund shall terminate on the
date of transfer.
(b) 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 firefighters'
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. 85-964; 86-1488