Illinois Compiled Statutes 40 ILCS 5/14-104.12 – Early termination incentives under the State Finance Act
Current as of: 2024 | Check for updates
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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
(1) shall not be included in, and do not affect the
calculation of, compensation or final average compensation under this Article;
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(2) do not entitle the recipient to establish any
additional service credit under this Article;
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(3) do not require and shall not result in the
payment of any employee or employer contributions under this Article; and
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(4) have no effect under this Article except to
disqualify the recipient from receiving the alternative retirement cancellation payment under Section 14-108.5.
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Terms Used In Illinois Compiled Statutes 40 ILCS 5/14-104.12
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14