IL HB3694

Removes provisions from Public Act 94-356 that restricted the transfer of creditable police service from the Illinois Municipal Retirement Fund to downstate police pension funds under Article 3 of the Illinois Pension Code.

Opens a new transfer window until June 30, 2014 allowing police officers to transfer creditable service accumulated under Article 7 to Article 3 pension funds under different terms and conditions than previously allowed.

Repeals Sections 3-110.8, 3-110.10, and 7-139.11 of the Illinois Pension Code which contained the prior transfer restrictions.

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

Takes effect immediately upon becoming law.