Ill. Admin. Code tit. 80, § 1650.355 – Purchase of Optional Service - Required Minimum Payment | Midpage
§ 1650.355
Ill. Admin. Code tit. 80, § 1650.355
Purchase of Optional Service - Required Minimum Payment
Effective Jan 31, 199721 Ill. Reg. 2422AUTHORITY: Implementing and authorized by Articles 1 and 16 of the Illinois Pension Code [40 ILCS 5]; Freedom of Information Act [5 ILCS 140]; Internal Revenue Code (26 U.S.C. 1 et seq.); Section 5-15 of the Illinois Administrative Procedure Act [5 ILCS 100].TEACHERS' RETIREMENT SYSTEM OF THE STATE OF ILLINOIS
The required minimum payment upon a member's outstanding optional service account balance shall be $50.00 or the balance due, whichever is less.
(Source: Added at 21 Ill. Reg. 2422, effective January 31, 1997)