IL HB5080

Allows special agents and special agent chiefs with the Securities Department of the Secretary of State to establish eligible creditable service under the alternative annuity provisions of the State Employees Article of the Illinois Pension Code.

Permits investigators for the Secretary of State and special agents/special agent chiefs with the Securities Department to elect to establish up to 5 years of eligible creditable service for prior service as municipal police officers, county corrections officers, or court services officers by filing written election and making specified contribution.

Allows investigators for the Secretary of State and special agents/special agent chiefs with the Securities Department to convert existing service credit earned under the State Employees Article to eligible creditable service under alternative annuity provisions through written election and specified payment.

Amends Section 1-160 (new hire provisions) and Section 14-110 (alternative retirement annuity) of the Illinois Pension Code to include these positions in the definition of "eligible creditable service."