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IL SB3778
Bill
Status
5/13/2022
Primary Sponsor
Christopher Belt
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AI Summary
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Expands eligibility for service credit transfer to the State Employees' Retirement System to include investigators for the Department of Revenue, Illinois Gaming Board, and Secretary of State, in addition to existing arson investigators.
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Allows investigators for the Department of Revenue, Illinois Gaming Board, and Secretary of State to establish eligible creditable service for up to 5 years of prior service as police officers, corrections officers, court services officers, or firefighters by paying the difference in contributions plus interest.
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Permits these same investigators to convert service credit earned before January 1, 2020 into eligible creditable service through a one-time election within 6 months of the effective date by paying additional employee and employer contributions plus interest.
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Applies these changes to pension benefit calculations under the Illinois Pension Code (40 ILCS 5), affecting Sections 4-108.8, 7-139.8, 9-121.10, 14-110, and 14-152.1.
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Exempts the state from reimbursing local governments for costs of implementing this act under the State Mandates Act.
Legislative Description
PENCD-SERS-ALTERNATIVE FORMULA
Last Action
Public Act . . . . . . . . . 102-0856
5/13/2022