Illinois General Assembly - Bill Status for SB 2526

Bill Status of SB 2526 102nd General Assembly

Short Description: PENCD-STATE SYS-DC PLAN

Senate Sponsors
Sen. Donald P. DeWitte and Win Stoller

Last Action View All Actions

Date Chamber Action
  1/10/2023 Senate Session Sine Die

Statutes Amended In Order of Appearance
5 ILCS 375/3 from Ch. 127, par. 523
5 ILCS 375/10 from Ch. 127, par. 530
40 ILCS 5/1-160
40 ILCS 5/1-161
40 ILCS 5/2-105.3 new
40 ILCS 5/2-162
40 ILCS 5/2-165.5 new
40 ILCS 5/14-103.41
40 ILCS 5/14-152.1
40 ILCS 5/14-155.5 new
40 ILCS 5/15-108.2
40 ILCS 5/15-108.3 new
40 ILCS 5/15-198
40 ILCS 5/15-200.5 new
40 ILCS 5/16-106.41
40 ILCS 5/16-203
40 ILCS 5/16-205.5 new
40 ILCS 5/18-110.1 new
40 ILCS 5/18-121.5 new
40 ILCS 5/18-124 from Ch. 108 1/2, par. 18-124
40 ILCS 5/18-125 from Ch. 108 1/2, par. 18-125
40 ILCS 5/18-125.1 from Ch. 108 1/2, par. 18-125.1
40 ILCS 5/18-127 from Ch. 108 1/2, par. 18-127
40 ILCS 5/18-128.01 from Ch. 108 1/2, par. 18-128.01
40 ILCS 5/18-133 from Ch. 108 1/2, par. 18-133
40 ILCS 5/18-169
40 ILCS 5/20-121 from Ch. 108 1/2, par. 20-121
40 ILCS 5/20-123 from Ch. 108 1/2, par. 20-123
40 ILCS 5/20-124 from Ch. 108 1/2, par. 20-124
40 ILCS 5/20-125 from Ch. 108 1/2, par. 20-125

Synopsis As Introduced
Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Requires each System to prepare and implement a defined contribution plan by July 1, 2023 that aggregates State and employee contributions in individual participant accounts that are used for payouts after retirement. Provides that persons who first become participants on or after July 1, 2023 shall participate in the defined contribution plan in lieu of the defined benefit plan. Makes related changes in the State Employees Group Insurance Act of 1971. Effective immediately.

Actions
Date Chamber Action
  2/26/2021 Senate Filed with Secretary by Sen. Donald P. DeWitte
  2/26/2021 Senate First Reading
  2/26/2021 Senate Referred to Assignments
  3/16/2021 Senate Added as Co-Sponsor Sen. Win Stoller
  3/23/2021 Senate Assigned to Pensions
  4/16/2021 Senate Rule 3-9(a) / Re-referred to Assignments
  1/10/2023 Senate Session Sine Die

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Date	Chamber	Action
2/26/2021	Senate	Filed with Secretary by Sen. Donald P. DeWitte
2/26/2021	Senate	First Reading
2/26/2021	Senate	Referred to Assignments
3/16/2021	Senate	Added as Co-Sponsor Sen. Win Stoller
3/23/2021	Senate	Assigned to Pensions
4/16/2021	Senate	Rule 3-9(a) / Re-referred to Assignments
1/10/2023	Senate	Session Sine Die