Illinois General Assembly - Bill Status for SB2894
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 Bill Status of SB2894  102nd General Assembly


Short Description:  PEN CD-SERS-ALTERNATE ANNUITY

Senate Sponsors
Sen. Terri Bryant

Last Action
DateChamber Action
  4/20/2021SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/1-160
40 ILCS 5/14-110from Ch. 108 1/2, par. 14-110
40 ILCS 5/14-152.1


Synopsis As Introduced
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.

Actions 
DateChamber Action
  4/20/2021SenateFiled with Secretary by Sen. Terri Bryant
  4/20/2021SenateFirst Reading
  4/20/2021SenateReferred to Assignments

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