HB2905 Summary

• Amends the Illinois Pension Code to extend alternative retirement annuity provisions under the State Employees Article (Article 14) to conservation police officers, investigators for the Secretary of State, and arson investigators who are subject to Tier 2 provisions.

• Allows conservation police officers, Secretary of State investigators, and arson investigators subject to Tier 2 to convert up to 8 years of service credit earned before the effective date of this amendatory act into eligible creditable service by filing a written election with the Board and making a specified payment.

• Payment required equals the difference between employee contributions actually paid and contributions that would have been paid at the eligible creditable service rate, plus interest calculated at the effective rate from the date of service to date of payment.

• Modifies Section 1-160 to include conservation police officers, Secretary of State investigators, and arson investigators in the list of positions eligible for alternative retirement annuity benefits under Section 14-110.

• Effective immediately upon becoming law.