Sec. 14-104.12. Early termination incentives under the State Finance Act.

121 words·~1 min read·/il/chapter-40/act-5/14-104-12

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Sec. 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.