Illinois Senate Bill 1518

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 8 2023 - 25% progression
Action: 2023-02-08 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the General Provisions and State Employee Articles of the Illinois Pension Code. Provides that the alternative retirement annuity under the State Employee Article applies to a security employee of the Department of Human Services subject to the Tier 2 provisions. Provides that a security employee of the Department of Human Services subject to the Tier 2 provisions may convert up to 8 years of service credit established before the effective date of the amendatory Act as a security employee of the Department of Human Services under the State Employee Article into eligible creditable service by filing a written election with the Board under that Article, accompanied by a specified payment. Excludes a benefit increase resulting from the amendatory Act from the definition of "new benefit increase". Effective immediately.

PEN CD-SERS-ALTERNATE ANNUITY

Sen. Terri Bryant [R]

Date	Chamber	Action
2023-02-08	Senate	Referred to Assignments
2023-02-08	Senate	First Reading
2023-02-08	Senate	Filed with Secretary by Sen. Terri Bryant

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-160	Amended Code	Citation Text
40	5	14-110	Amended Code	Citation Text
40	5	14-152.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1518&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB1518.htm