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Downstate Pension Transfer

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  • Downstate Pension Transfer

    Can anyone out there explain in plain English, how the transfer of a pension between 2 departments that are part of the downstate pension fund works? I have about 4 years on at a department that has a slightly lower salary than the PD that I'm looking to switch to. The department I'm looking at would not be hiring me as a lateral. Thanks in advance.

  • #2
    Illinois Dept. of Insurance is the place that Police/Fire Pension boards go for their answers on pension matters. If you are getting a lower pay, either you or your old PD will have some money to make up at the new PD to get portability. Nice thing is if you were on prior to 2011, you are still in tier #1 at the new PD, so it's still 20/50 at 50 yoa for you. Check this site, or call them for particulars on the money part.

    https://insurance.illinois.gov/Appli...n/Default.aspx

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    • #3
      Thanks, just sent them an email.

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