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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(40 ILCS 5/8-230.1) (from Ch. 108 1/2, par. 8-230.1)
Sec. 8-230.1. Right of employees to contribute for certain other service.
Any employee in the service, after having made contributions covering a period
of 10 or more years to the annuity and benefit fund herein provided for, may
elect to pay for and receive credit for all annuity purposes for service
theretofore rendered by the employee to the Chicago Transit
Authority created by the Metropolitan Transit Authority Act or its predecessor public utilities;
provided that the last 5 years of service prior to retirement on annuity
shall have been as an employee of the City and a contributor to this Fund.
Such service credit may be paid for and granted on the same basis and
conditions as are applicable in the case of employees who make payment for
past service under the provisions of Section 8-230, but on the assumption that the employee's salary
throughout all of his or her service with the Authority or its
predecessor public utilities was at the rate of the employee's
salary at the later of the date of his or her entrance or reentrance into the service as a municipal
employee, as applicable. In no event, however, shall such service be credited if the employee
has not forfeited and relinquished pension credit for service
covering such period under any pension or retirement plan applicable
to the Authority or its predecessor public utilities and
instituted and maintained by the Authority or its predecessor
public utilities for the benefit of its employees.
(Source: P.A. 103-455, eff. 1-1-24.)
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