40 ILCS 5/13-801
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 13 - Metropolitan Water Reclamation District Retirement Fund

 (from Ch. 108 1/2, par. 13-801)Sec. 13-801.     Transfer of credits to General Assembly Retirement System.(a) Payments.  Any active member of the General Assembly Retirement  System may apply for a transfer of credits and creditable service  accumulated under this Fund to the General Assembly System.  Such credits  and creditable service shall be transferred forthwith.  Payment by this  Fund to the General Assembly Retirement System 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 Fund on the date of transfer, but excluding any additional or optional credits, which credits shall be refunded to the applicant; and(2) municipality credits computed and credited under     this Article including interest, on the books of the Fund on the date the member terminated service under the Fund.  Participation in this Fund as to any credits transferred under this Section shall terminate on the date of transfer.An active member of the General Assembly who has service credits and  creditable service under the Fund may establish additional service credits  and creditable service for periods during which such member was an elected  official and could have elected to participate but did not so elect.  Service credits and creditable service may be established by payment to the  fund of an amount equal to the contributions such member would have made if  an election to participate had been made, plus interest to the date of payment.(b) Validation of service credits.  An active member of the General  Assembly having no service credits or creditable service in the Fund, may  establish service credit and creditable service for periods during which  such member was an employee of an employer in an elective office and could  have elected to participate in the Fund but did not so elect.Service credits and creditable service may be established by payment to  the Fund of an amount equal to the contributions such member would have  made if an election to participate had been made, plus interest to the date  of payment, together with a like amount as the applicable municipality  credits including interest, but the total period of such creditable service  that may be validated shall not exceed 8 years.(c) Termination of continued participation.  Persons otherwise required  or eligible to participate in the Fund who elect to continue participation  in the General Assembly System under Section 2-117.1 may not participate in  the Fund for the duration of such continued participation under Section  2-117.1.Upon terminating such continued participation, a person may transfer  credits and creditable service accumulated under Section 2-117.1 to this  Fund, upon payment to this Fund of:(1) the amount by which the employer and employee     contributions that would have been required if such member had participated in this Fund during the period for which credit under Section 2-117.1 is being transferred, plus interest, exceeds the amounts actually transferred under that Section to the Fund, and(2) interest thereon at 6% per annum compounded     annually from the date of payment.   (Source: P.A. 87-794.)