40 ILCS 5/5-219
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 5 - Policemen's Annuity And Benefit Fund--Cities Over 500,000

 (from Ch. 108 1/2, par. 5-219)Sec. 5-219.     Park Policemen's Annuity Fund Act superseded.     From January 1, 1960, the fund herein provided for shall supersede  and take the place of the Park Policemen's Annuity Fund established  under the Park Policemen's Annuity Act. The Park Policemen's Annuity  Fund as of such date shall be merged into and become a part of the fund  herein provided for. The fund shall be construed to be a continuation of  such Park Policemen's Annuity Fund and all monies, securities,  properties and any and all other assets of such annuity and benefit  fund, shall, on the first day of January, 1960, be transferred by the  retirement board of the Park Policemen's Annuity Fund to the board of  the fund herein provided for. The board established under this Article  shall receive the aforesaid assets which shall be allocated to the  several reserves created by this Article for the purposes thereof. All  participants of the superseded fund shall have the same rights and  benefits and be subject to the same duties and responsibilities as if  they had originally been participants of this fund from the first date  of employment as members of the active service in the police department  of any park district or as a retirement board employee of such  superseded fund.All annuities, pensions and other benefits allowed prior to the first  day of January, 1960, by the retirement board of such superseded Park  Policemen's Annuity Fund shall thereafter be assumed and paid from this  fund according to the law under which such annuities, pensions or other  benefits were allowed.All claims for any annuity, pension or other benefit from such Park  Policemen's Annuity Fund pending or ungranted on January 1, 1960, shall  be allowed or disallowed by the board established under this Article  according to the provisions of the Park Policemen's Annuity Act, and  those which are allowed shall be paid from the fund herein provided for;  provided, that whenever any claim shall hereafter be made or proceedings  at law instituted under any Act in effect prior to January 1, 1960, no  amount of annuities for any prior period shall be allowed or paid for  any period of time greater than a period of one year prior to the date  of the filing of the claim or the date of the institution of such legal  proceedings, the intent being that any annuity or benefit hereafter  granted or ordered under any such superseded Act shall be so granted or  ordered as of the date not more than one year prior to the date of the  filing of the claim for such annuity or benefit or of the institution of  the legal proceedings thereof.The proceeds of taxes levied for the year 1959 and prior years  pursuant to Section 9 of the Park Policemen's Annuity Act, including  delinquent and uncollected taxes, shall, when collected, be paid by the  county treasurer into the fund herein provided for.If a retirement board employee for the superseded Park Policemen's  Annuity Fund has not applied for or received a refund of his  contributions prior to January 1, 1960, under Section 37 of the Park  Policemen's Annuity Act, he may thereafter apply for and receive such  refund from the fund created by this Article. If such refunds are not  applied for after January 1, 1960, and any such retirement board  employee is employed by a governmental unit which has accepted the  provisions of the "Retirement Systems Reciprocal Act", approved July 11,  1955, as amended, the amount of such employee's and park district  contributions to his credit which have been transferred to the fund  established by this Article shall, upon request of the retirement board  of the fund in which the employee is a participant, or upon request of  the employee, be transferred by the board to the retirement system in  which the employee is a participant. The service, earnings and contributions  credits  earned by the employee in the superseded Park Policemen's Annuity Fund  shall be preserved, and, in the application of the "Retirement Systems  Reciprocal Act", the retirement system to which such contributions have  been transferred shall grant credit for the service, earnings and contributions  and consider such credits in calculating all benefits.   If any such employee has accepted a  refund of his contributions, upon subsequent employment by a  governmental unit which has accepted the provisions of the "Retirement  Systems Reciprocal Act", he may reinstate his credits earned in the  superseded Park Policemen's Annuity Fund by repayment to the retirement  fund in which he is a participant in the manner and subject to the  conditions of the "Retirement Systems Reciprocal Act", and, in such  case, the retirement system which has received such repayment shall grant  credit for the service, earnings and contributions credited by such superseded  fund and consider such credits in calculating all benefits.All rights, credits and equities earned under the provisions of the  Park Policemen's Annuity Fund shall be preserved and shall not be  affected or impaired by the supersession of said fund by the city  policemen's annuity fund. Such rights, credits and equities shall be  considered to have accrued and been earned under the provisions of this  Article.    (Source: P.A. 82-783.)