Illinois SB1937 amends the Illinois Pension Code to revise retirement benefits for certain state employees.
Illinois SB1937 amends the Illinois Pension Code to revise retirement benefits for specific state employees, including State policemen, conservation police officers, and investigators for various state departments. The bill allows these employees to convert certain service credits into eligible creditable service by filing an election and making a payment to the pension system. It also outlines the conditions and calculations for retirement annuities, including interest rates and maximum percentages of final average compensation.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.