Public Act 95-0530 allows former IMRF members who participated in SLEP but now participate in SERS as a state police officer, conservation police officer, or, investigator for Secretary of State to transfer their IMRF SLEP service to SERS. SERS can accept up to five years of transferred service. They can also reinstate their refunded SLEP service as at a reduced interest rate.
To transfer the service, the member would complete IMRF Form entitled, ”IMRF Transfer to State Employees Retirement System.”
The member can apply for this transfer at any time; there is no deadline for application.
If the member took a refund of his or her IMRF service credit, the member can repay the refund at a reduced interest rate and reinstate the service. The former member can indicate that he or she has service to reinstate on this form.
The member’s cost to reinstate the service will be calculated using a reduced interest rate of 6% (instead of the normal 7.50%). Once the member receives a Past Service Payment Schedule from IMRF, he or she can repay the refund at any time in order to transfer the service; no deadline exists for repayment of the refund.
However, if the member reinstates the SLEP service at the reduced interest rate, the reinstated service must be transferred to SERS; it cannot remain on deposit with IMRF.
Members can access this form by visiting the Member Access area on IMRF's website (www.imrf.org).