<?xml version='1.0' encoding='ISO-8859-1'?>
<xml>
<title>Illinois General Assembly - Bill Status for SB 1307         </title>
<shortdesc>PEN CD-SERS-ALTERNATE ANNUITY</shortdesc>
<sponsor>
<sponsorhead1>Senate Sponsors</sponsorhead1><sponsors>Sen. Michael W. Halpin</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>40 ILCS 5/1-160</reference><aliasreference></aliasreference><reference>40 ILCS 5/14-110</reference><aliasreference>from Ch. 108 1/2, par. 14-110</aliasreference><reference>40 ILCS 5/14-152.1</reference><aliasreference></aliasreference><SynopsisText>Amends the State Employee Article of the Illinois Pension Code. Provides that the alternative retirement annuity provisions apply to a Tier 2 State highway maintenance worker. Authorizes a Tier 2 State highway maintenance worker to convert up to 8 years of certain service credit established before the effective date of the amendatory Act into eligible creditable service under the alternative retirement annuity provisions upon application and payment of a specified contribution. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase".</SynopsisText></synopsis>
<actions>
<statusdate>2/3/2023</statusdate><chamber>Senate</chamber><action>Filed with Secretary by Sen. Michael W. Halpin</action>
<statusdate>2/3/2023</statusdate><chamber>Senate</chamber><action>First Reading</action>
<statusdate>2/3/2023</statusdate><chamber>Senate</chamber><action>Referred to Assignments</action>
<statusdate>2/14/2023</statusdate><chamber>Senate</chamber><action>Assigned to Senate Special Committee on Pensions</action>
<statusdate>2/22/2023</statusdate><chamber>Senate</chamber><action>To Subcommittee on Pensions Special Issues</action>
<statusdate>3/10/2023</statusdate><chamber>Senate</chamber><action>Rule 3-9(a) / Re-referred to Assignments</action>
<statusdate>1/7/2025</statusdate><chamber>Senate</chamber><action>Session Sine Die</action>
</actions>
</xml>

