PENCD-SERS-ALTERNATIVE ANNUITY

Amends the General Provisions and State Employees Articles of the Illinois Pension Code. Provides that a special agent or special agent chief with the Securities Department of the Secretary of State may establish eligible creditable service under the alternative annuity provisions of the State Employees Article. Provides that an investigator for the Secretary of State or a special agent or special agent chief with the Securities Department of the Secretary of State may elect to establish eligible creditable service for up to 5 years of service as a person employed by a participating municipality to perform police duties under the Illinois Municipal Retirement Fund Article, a county corrections officer, or a court services officer under the Cook County Article by filing a written election and making a specified contribution. Provides that an investigator for the Secretary of State or a special agent or special agent chief with the Securities Department of the Secretary of State may elect to convert service credit under the State Employees Article to eligible creditable service under the alternative annuity provisions by filing a written election and making a specified contribution.