SB1986 allows sheriff's law enforcement employees to transfer creditable service from a police pension fund to the Illinois Municipal Retirement Fund.
SB1986 amends the Illinois Pension Code to allow sheriff's law enforcement employees to transfer creditable service from a police pension fund to the Illinois Municipal Retirement Fund. Employees can make a written election to transfer up to 10 years of service credit. The transfer can be established by either paying a specified amount to the Illinois Municipal Retirement Fund or having the amount of creditable service reduced by a specified amount.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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