Establishes a retirement benefit review panel

S 1988 creates a new retirement benefit review panel to provide final resolution for state retirement system members who were denied relief through existing channels. The panel, composed of at least 15 experts in retirement systems (including service credit and benefit transfers), will hear cases after individuals have exhausted other options like formal hearings. The panel can admit relevant evidence, make decisions based on professional judgment, and issue final rulings that cannot be appealed. This directly affects state employees and retirees seeking to resolve disputes over their retirement benefits.