Two or more participating systems may agree to have the combined benefits paid by one of the systems, in which case, the system which pays the combined benefit shall receive from the other system, a lump sum payment equal to the actuarial equivalent of the proportional annuity determined in accordance with annuity tables which are acceptable to both systems.
40 ILCS 5/20-128
Payment of benefits
Known as the Retirement Systems Reciprocal Act
The act spans §§ 40-5-20-101 to 40-5-20-133 (32 sections).
P.A. 78-779.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.