Ill. Admin. Code tit. 50 § 4439.90

Current through Register Vol. 48, No. 49, December 6, 2024

Section 4439.90 - Re-establishment of Dissolved Pension Fund - Reinstate Service in an Article 4 Firefighters Pension Fund

a) The corporate authorities of a municipality in which an Article 4 firefighters' pension fund has been dissolved in accordance with Section 4-106.1 of the Code shall re-establish the pension fund if a former firefighter's reinstatement of creditable service is required under Section 4-109.3(g) of the Code.

b) Benefits under Section 4-109.3 of the Code

1) A former firefighter who wants to receive benefits under Section 4-109.3 of the Code shall submit to the municipality:

A) notification of the intent to receive benefits, as required by Section 4-109.3(h) of the Code;

B) payment of the amount of refund received from the firefighter, with interest, as required by Section 4-109.3(g) of the Code; and

C) the additional contribution, with interest, required under Section 4-109.3(i) of the Code.

2) When the firefighter has adequately complied with the requirements of subsection (b)(1), the municipality shall re-establish the firefighters' pension fund in the same manner as it was originally established under Section 4-101 of the Code.

c) The board of trustees for the re-established pension fund created under subsections (a) and (b) shall consist of the former firefighter and two members appointed by the mayor or president of the board of trustees of the municipality or fire protection district involved. If two or three former firefighters reinstate creditable service in the re-established pension fund, those former firefighters shall sit on the board of trustees with the two appointed members. If more than three former firefighters reinstate creditable service in the re-established pension fund, or the municipality hires a full time firefighter, the board of trustees shall be created in the manner prescribed in Section 4-121 of the Code.

Ill. Admin. Code tit. 50, § 4439.90