IL SB1986

Sheriff's law enforcement employees currently participating in the Illinois Municipal Retirement Fund (IMRF) may elect to transfer service credit from a downstate police pension fund to IMRF within 6 months of the bill's effective date

Employees transferring credit can either pay the difference between transferred contributions and what would have been required under IMRF rates (plus interest), or accept a proportional reduction in their creditable service

The police pension fund must transfer to IMRF both the employee's accumulated contributions and matching employer contributions in an equal amount

Any transfer amount exceeding the required contribution difference is credited to the sheriff's law enforcement employee's employer account

The State Mandates Act is amended to exempt this requirement from state reimbursement obligations to local governments