Sec. 8-226.7. Transfer to Article 7.

170 words·~1 min read·/il/chapter-40/act-5/8-226-7

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 8-226.7. Transfer to Article 7. Until 6 months after the effective date of this amendatory Act of the 95th General Assembly, any member who is a sheriff's law enforcement employee under Article 7 of this Code who is eligible to transfer service credit to that Fund from this Fund under paragraph

(9)of subsection

(a)of Section 7-139 may apply for transfer of that service credit to the Illinois Municipal Retirement Fund. The credits and creditable service shall be transferred upon application, and shall include payment by this Fund to the Illinois Municipal Retirement Fund of:

(1)the amounts accumulated to the credit of the applicant for that service, including

interest, on the books of the Fund on the date of transfer; and

(2)the corresponding employer credits computed and credited for that service under this

Article, including interest, on the books of the Fund on the date of transfer.

Participation in this Fund as to the credits transferred under this Section shall terminate on the date of transfer.