PEN CD-ALT FORMULA-POLICE SERV

Amends the State Employees Article of the Illinois Pension Code. Provides that an investigator for the Secretary of State or a conservation police officer may elect, not later than one month after the effective date, to establish eligible creditable service for up to 5 years of his or her service as a policeman with a municipal or county police department for which he or she is not otherwise entitled to benefits under this Code (including by reason of acceptance of a refund). Requires the payment of employee and employer contributions and regular interest. Contains new benefit increase language. Effective immediately.