HB3757: PEN CD-DNST POLICE-TRANSFER

Legislative Summary

Amends the Downstate Police and Downstate Firefighter Articles of the Illinois Pension Code. Provides that, at any time during the 6 months following the effective date of the amendatory Act, an active member of a downstate police pension fund may apply for transfer to that fund of up to 8 years of his or her creditable service accumulated in a downstate firefighter pension fund that is administered by a unit of local government if that active member was not subject to disciplinary action when he or she terminated employment with that employer. Provides that the creditable service shall be transferred upon payment of a specified amount. Provides that, at the time of applying for a transfer of creditable service, an active member of a downstate police pension fund may, for the purpose of that transfer, reinstate creditable service that was terminated by receipt of a refund, by payment to the downstate police pension fund of a specified amount. Amends the State Mandates Act to require implementation without reimbursement.