This bill amends the State Police Retirement Act of 1986 by adding new sections (24c, 24d, 24e, and 24f) that allow certain members to purchase service credit for time served under the State Employees' Retirement Act of 1943. Members described in specific sections (4(1)(b), 4(1)(d), and 4(1)(f)) can obtain service credit by paying an amount equal to the actuarial value of the service as determined by the retirement system's actuary. However, service credit is not creditable if the member is receiving a retirement allowance for the same service from another retirement system. Members are not required to purchase service credit, and they have until October 15, 2027, to initiate the purchase, with a four-year window to complete payment.

Additionally, the bill establishes that for members described in sections 4(1)(b) to (g), the provisions of this act will take precedence over any conflicting provisions in collective bargaining agreements. The enactment of this amendatory act is contingent upon the passage of two other specified bills from the 103rd Legislature.

Statutes affected:
Substitute (S-1): 38.1601, 38.1674
Senate Introduced Bill: 38.1601, 38.1674
As Passed by the Senate: 38.1601, 38.1674