IL HB1299

Extends alternative retirement annuity provisions under the State Employees' Retirement System (SERS) to Tier 2 State highway maintenance workers, allowing them to retire with 20 years of eligible creditable service at age 60

Allows Tier 2 State highway maintenance workers to convert up to 8 years of service credit earned before the effective date into eligible creditable service under the alternative formula upon application and payment of required contributions plus interest

Defines "State highway maintenance worker" as full-time employees of IDOT (highway maintainer, lead worker, heavy equipment operator, power shovel operator, bridge mechanic) or Illinois Tollway in specified maintenance positions whose principal responsibility is roadway maintenance

Excludes any benefit increase resulting from this legislation from the definition of "new benefit increase" under the pension funding requirements, meaning it would not trigger the automatic expiration provisions for unfunded benefit increases

Amends multiple sections of the Illinois Pension Code (Sections 1-160, 14-110, and 14-152.1) to incorporate State highway maintenance workers into existing alternative retirement provisions alongside other public safety positions