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IL SB3778

Bill

Status

Passed

5/13/2022

Primary Sponsor

Christopher Belt

Click for details

Origin

Senate

102nd General Assembly

AI Summary

  • 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.

  • 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.

  • 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.

  • 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.

  • 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

Committee Referrals

Personnel & Pensions3/7/2022
Rules2/25/2022
Pensions2/22/2022
Assignments2/18/2022
Pensions2/8/2022
Assignments2/7/2022
Pensions2/1/2022
Assignments1/21/2022

Full Bill Text

No bill text available