IL HB3622

Adds conservation police officers to those eligible for the alternative retirement annuity under Section 14-110 of the Illinois Pension Code, requiring 20 years of eligible creditable service and age 60.

Allows conservation police officers subject to Tier 2 provisions (Section 1-160) to convert up to 8 years of service credit earned before this Act's effective date into eligible creditable service by filing a written election with the Board and making a specified payment.

The payment required for service credit conversion equals the difference between employee contributions actually paid and what would have been paid at the conservation police officer rate, plus interest compounded annually from the date of service to payment date.

Effective immediately upon becoming law.