Retirement plan with State of Illinois jobs
I'm considering applying to some jobs with the State of Illinois and I am trying to understand their retirement benefit. I understand they have 401B instead of 401k that only the employee pays into. I understand there is also a retirement plan but don't know how it works. I am 52 and am used to 401ks in corporations where there is an employer match and no separate retirement plan. Can someone explain how getting a job at 52 years of age would work with the state retirement program? How much do they contribute every years? Thank you.