HB1871

Illinois HB1871 amends the Illinois Pension Code to allow certain state employees to convert past service credit into eligible creditable service.

Illinois HB1871 amends the Illinois Pension Code to allow specific state employees to convert up to 5 years of past service credit into eligible creditable service. Eligible employees include State policemen, conservation police officers, investigators for various state departments, and others. To convert service credit, employees must file a written election with the Board and pay a specified amount. The bill also details the calculation of retirement annuities for these employees, including interest rates and maximum compensation percentages.