Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2022 | Updated by FindLaw Staff
§ 4-108.8. Transfer of creditable service to the State Employees' Retirement System.
(a) Any active member of the State Employees' Retirement System who is an arson investigator, investigator for the Department of Revenue, investigator for the Illinois Gaming Board, or investigator for the Secretary of State may apply for transfer of some or all of his or her credits and creditable service accumulated in any firefighters' pension fund under this Article to the State Employees' Retirement System in accordance with Section 14-110. The creditable service shall be transferred only upon payment by the firefighters' pension fund to the State Employees' Retirement System of an amount equal to:
(1) the amounts accumulated to the credit of the applicant for the service to be transferred on file with the fund on the date of transfer;
(2) employer contributions in an amount equal to the amount determined under paragraph (1); and
(3) any interest paid by the applicant in order to reinstate service to be transferred.
Participation in the firefighters' pension fund with respect to the service to be transferred shall terminate on the date of transfer.
(b) Any person applying to transfer service under this Section may reinstate service that was terminated by receipt of a refund, by paying to the firefighters' pension fund the amount of the refund with interest thereon at the actuarially assumed rate of interest, compounded annually, from the date of refund to the date of payment.
Cite this article: FindLaw.com - Illinois Statutes Chapter 40. Pensions § 5/4-108.8. Transfer of creditable service to the State Employees' Retirement System - last updated January 01, 2022 | https://codes.findlaw.com/il/chapter-40-pensions/il-st-sect-40-5-4-108-8/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)