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Illinois Statutes Chapter 40. Pensions § 5/14-105.3. Transfer of credits to Judges Retirement System; payment

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 14-105.3. Any active member of the Judges Retirement System and, between January 1 and January 15, 1983, any deputy sheriff who is an active member of a Fund created under Article 9 of this Act may apply for transfer of his credits and creditable service accumulated under this System to the Judges Retirement System or such Article 9 Fund, respectively. Such credits and creditable service shall be transferred forthwith. Payment by this System to the Judges Retirement System or such Article 9 Fund shall be made at the same time and shall consist of:

(1) the amounts accumulated to the credit of the applicant, including interest, on the books of the System on the date of transfer; and

(2) employer contributions in an amount equal to the amount of member contributions as determined under subparagraph (1). Participation in this System as to any credits transferred under this Section shall terminate on the date of transfer.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 40. Pensions § 5/14-105.3. Transfer of credits to Judges Retirement System; payment - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-40-pensions/il-st-sect-40-5-14-105-3/

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