Illinois SB3198 amends the Public Employees' Retirement System to allow alternate annuity options.
Illinois SB3198 modifies the Public Employees' Retirement System by introducing alternate annuity options. This bill aims to provide more flexibility in retirement benefits for eligible participants. The changes affect those enrolled in the system, offering them different ways to structure their retirement income. The bill specifies the conditions under which these alternate annuities can be applied.
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