IL HB3655

Allows active members of the Firemen's Annuity and Benefit Fund of Chicago to transfer up to 10 years of creditable service from Downstate Firefighters (Article 4), Chicago Municipal (Article 8), and Chicago Laborers (Article 11) pension funds until January 1, 2010.

Requires payment from the originating pension fund to the Firemen's Annuity and Benefit Fund of Chicago equal to accumulated employee contributions, employer contributions, interest, and any amounts needed to reconcile contribution rate differences.

Terminates the member's participation in the originating pension fund upon the transfer of credits.

Amends the State Mandates Act to exempt implementation of this bill from state reimbursement requirements to local governments.