HomeMy WebLinkAboutRes 08-22 02/15/2022 Authorizing the purchase of out-of-state service for Illinois Municipal Retirement Fund (IMRF)RESOLUTION NO. 8-22
A RESOLUTION AUTHORIZING THE PURCHASE OF
OUT -OF STATE SERVICE FOR ILLINOIS MUNICIPAL RETIREMENT FUND IMRF
WHEREAS, pursuant to Article 7 of the Illinois Pension Code (40 ILCS 5/7-139 (6)), credible past service
shall be granted to a current member of the Illinois Municipal Retirement Fund (IMRF) for service
previously rendered to an out-of-state local governmental body under the condition that the employee
has irrevocably forfeited all rights to a benefit from that pension program; and
WHEREAS, said creditable service shall be no more than one hundred and twenty (120) months of
service; and
WHEREAS, a resolution must be adopted allowing IMRF members to purchase past service credit for
out-of-state service.
NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF
MOUNT PROSPECT, COOK COUNTY, ILLINOIS, ACTING PURSUANT TO ITS HOME RULE POWERS:
SECTION ONE: The Village of Mount Prospect elects to allow the purchase of out-of-state contributions
for members participating in the Illinois Municipal Retirement Fund.
SECTION TWO: That the Village Clerk shall be directed to file a certified copy of this resolution with the
Board of Trustees of the Illinois Municipal Retirement Fund and that this resolution shall remain in full
force and effect until modified or rescinded and notice of such modification or rescission has been filed
with the Board of Trustees of the Illinois Municipal Retirement Fund.
SECTION THREE: That this Resolution shall be in full force and effect from and after its passage and
approval in the manner provided by law.
AYES: Filippone, Gens, Matuszak, Pissarreck, Rogers, Saccotelli
NAYS: None
ABSENT: None
PASSED AND APPROVED this 155' day of February, 2022.
ATTEST:
Karen Agoranos,
Village Clerk