IL HB0618

Active members of Article 4 firefighters' pension funds may apply within 6 months of the effective date to transfer up to 6 years of creditable service from an Article 3 police pension fund administered by the same local government, provided they were not subject to disciplinary action when they left the police department.

Transfer of service requires the police pension fund to pay the firefighters' fund an amount equal to the member's accumulated credits, employer contributions of equal amount, and any interest paid to reinstate service.

Members may reinstate previously terminated creditable service by paying the refund amount plus 6% annual compound interest from the date of the refund to the date of payment.

Participation in the police pension fund terminates on the date of transfer for the transferred creditable service.

No state reimbursement is required for implementation of mandates created by this act.