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Current as of January 01, 2025 | Updated by Findlaw Staff
§ 14-104.12. Early termination incentives under the State Finance Act. Notwithstanding any other provision of this Article and notwithstanding that they may be payable from a personal services line item, early termination incentives paid under Section 14a.5 of the State Finance Act:
(1) shall not be included in, and do not affect the calculation of, compensation or final average compensation under this Article;
(2) do not entitle the recipient to establish any additional service credit under this Article;
(3) do not require and shall not result in the payment of any employee or employer contributions under this Article; and
(4) have no effect under this Article except to disqualify the recipient from receiving the alternative retirement cancellation payment under Section 14-108.5.
Cite this article: FindLaw.com - Illinois Statutes Chapter 40. Pensions § 5/14-104.12. Early termination incentives under the State Finance Act - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-40-pensions/il-st-sect-40-5-14-104-12/
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