The following definitions are provided to help you understand terms we regularly use in our seminars, correspondence, and publications. These definitions are general, not technical, in nature. For detailed definitions, please see the Illinois Pension Code, Article 16.

O

offset

A method of collecting monies owed by an individual or an organization conducting business with or receiving payments from the State of Illinois by offsetting monies to be paid to the individual or organization through the Office of the Comptroller.

optional service

Service credit that may be purchased by eligible members or annuitants. Out-of-system service, military service, part-time service and substitute teaching prior to 1990, reinstatement of refunded service, pregnancy credit, adoption credit, periods of involuntary layoff, leaves of absence, and Illinois recognized private school service are all optional service. (Members must apply on or before August 1, 2012 for private school credit.)

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