Ill. Admin. Code tit. 50, § 4404.70 - Prior Fund Notification Requirement

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

Within 30 days after receipt of the current pension fund's notification, the prior pension funds shall provide written notification, to both the requesting officer and the current pension fund, verifying receipt of the notification required by Section 4404.60 of this Part. The prior funds must also verify the creditable service time on record and identify the amount of money due to be transferred to the current fund on behalf of the officer as calculated pursuant to Section 4404.73 of this Part, specifically broken down into categories including employee contributions, employer contributions, and interest. In the event that a refund has been taken, the prior pension fund must also notify the officer and the current pension fund of the amount of money that is owed to the prior pension fund in order to reinstate that service time as calculated pursuant to Section 4404.76 of this Part. The prior fund's notification to the officer and the current pension fund must identify that portion of the amount owed for reinstatement that is attributable to the refund received by the officer and that portion of the amount that is attributable to the interest on the refund.

Notes

Ill. Admin. Code tit. 50, § 4404.70

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

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