House Bill 4209 allows active members of the IMRF SLEP fund to transfer up to 10 years of Article 3 police service to their IMRF pension fund in the next 6 months.
Who may apply
If you are currently participating in the IMRF SLEP plan, you are eligible to transfer police pension service credit you have earned to your IMRF pension.
Transfer Options
You have two choices on how to receive your SLEP service:
| Option 1: Pay what it costs to transfer all of your Article 3 police service credit into IMRF SLEP service credit (up to 10 years) |
Option 2: Receive the amount of IMRF SLEP service credit that the money transferred from your Article 3 fund will pay for (up to 10 years) |
|---|---|
|
With this option, you:
|
With this option, you:
|
Note: If you choose Option 1, you must elect to pay the additional required amount to transfer the full amount of Article 3 service as SLEP within 60 days after you receive notification of the total cost.
If IMRF does not receive your election in the 60 day period, only Option 2, the reduced service amount, will be available.
Timeline to apply
- The window to elect to transfer service is limited to six months. The window begins July 1, 2022, and ends January 1, 2023.
- Because the window to transfer out of the Article 3 fund is the same six-month period, you should apply as soon as possible to make sure there is enough time for both IMRF and your Article 3 fund to process your transfer.
How to apply
Complete the Article 3 Police Pension Fund Transfer to IMRF form. Scan your completed form and send it to IMRF by attaching it to a secure message using Member Access. You can also fax your form to 630-706-4289 or mail the form to us.