Ill. Admin. Code tit. 50, § 4404.60 - Current Fund Notification Requirement

Current through Register Vol. 46, No. 15, April 8, 2022

Within 30 days after receipt of the police officer's request, the current pension fund shall provide written notification to both the requesting officer and the prior pension funds verifying receipt of the request. The current pension fund shall obtain verification of the creditable service time on record with the prior pension fund, as well as the amount the prior pension fund will transfer to the current pension fund as calculated pursuant to Section 4404.73 of this Part and the amount the police officer is required to pay the prior pension fund in order to reinstate service as calculated pursuant to Section 4404.76 of this Part, if applicable. At this time the current pension fund shall also provide written notification to the independent actuary or the Department of Insurance (DOI), as applicable, requesting the actuarial amounts to be used in the true cost determination. The request form prescribed by Illustration A of this Part must accompany the notification if the DOI is requested to perform the actuarial calculations.

Notes

Ill. Admin. Code tit. 50, § 4404.60

Amended at 35 Ill. Reg. 2120, effective January 24, 2011

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