(40 ILCS 5/14-104.12)
Sec. 14-104.12. Early termination incentives under the State Finance Act. Notwithstanding any other provision of this Article and notwithstanding that they may be payable from a personal services line item, early termination incentives paid under Section 14a.5 of the State Finance Act:
(1) shall not be included in, and do not affect the
calculation of, compensation or final average compensation under this Article;
(2) do not entitle the recipient to establish any
additional service credit under this Article;
(3) do not require and shall not result in the
payment of any employee or employer contributions under this Article; and
(4) have no effect under this Article except to
disqualify the recipient from receiving the alternative retirement cancellation payment under Section 14-108.5.
(Source: P.A. 93-839, eff. 7-30-04.)
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Last modified: February 18, 2015