IL HB2443

Active members of downstate firefighters' pension funds may apply within 6 months of the Act's effective date to transfer up to 8 years of creditable service from a downstate police pension fund

Applicants must not have been subject to disciplinary action when they terminated employment with the police department to qualify for the transfer

Transfer requires payment from the police pension fund to the firefighters' fund, including accumulated member contributions, matching employer contributions, and any interest paid to reinstate service

Members may reinstate previously refunded creditable service by repaying the refund amount plus 6% annual compound interest from the refund date to the payment date

Implementation is exempt from State reimbursement requirements under the State Mandates Act