|
elect, prior to January 1,
1970, to contribute directly to the |
fund for age and service and widow's
annuity on salary received |
in excess of that provided for in his civil
service rank for |
police service rendered in a non-civil service position
prior |
to the operative date of his election. Such election shall be
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exercised prior to January 1, 1974, by a policeman in service |
on such
effective date or within 6 months prior to such date. |
Any policeman in
service not serving in a non-civil service |
position on the effective
date of this amendatory Act who is |
subsequently assigned and serving in
a non-civil service |
position may make like election within 6 months
after such |
assignment. Contributions for such past service shall include
|
interest at the applicable rate to the end that the |
contributions shall
equal the amount that would have been |
credited to the policeman had
deductions been made
from such |
excess salary for such service. For such
contributions the |
policeman shall be credited with the corresponding
city |
contributions with interest for all annuity purposes at the |
rates
in effect at the time the service was rendered.
|
Contributions for past service, if elected, shall be made |
for the
entire period of service and for the total amount of |
the excess salary
and no credit shall be granted or payment |
permitted for any part of such
service or excess salary. |
Payment of contributions on such past service
shall be |
completed within 3 years of the date of election and in any
|
event before death or retirement. If not paid in full within |
such
period, or before death, no credit shall be granted |
thereon, and the
sums so paid, with interest at the rate of 1 |
1/2% per year, compounded
annually, shall be refunded to the |
policeman, or his surviving widow or
children, or if there are |
no such survivors, then in accordance with
Section 5-167, |
provided, however, that if the repayment has not been
made in |
full before death, his widow shall have the option of |
completing
such payment within 60 days from the date of his |
death.
|
A policeman assigned to a non-civil service position within |