Bill Status of HB 426   99th General Assembly

Short Description:  PEN CD-TRS SELF-MANAGED PLAN

House Sponsors
Rep. Thomas Morrison

Last Action  View All Actions

DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/16-153.6 new
40 ILCS 5/16-153.7 new
40 ILCS 5/16-203
40 ILCS 5/20-121from Ch. 108 1/2, par. 20-121
40 ILCS 5/20-123from Ch. 108 1/2, par. 20-123
40 ILCS 5/20-124from Ch. 108 1/2, par. 20-124
40 ILCS 5/20-125from Ch. 108 1/2, par. 20-125

Synopsis As Introduced
Amends the Downstate Teacher Article of the Illinois Pension Code. Directs the System to establish a self-managed plan. The plan applies only to teachers whose employers adopt the plan and only to teachers who make an election to participate in the plan. Specifies the terms and contents of the plan and the method of electing to participate. Defines terms. Contains a new benefit increase exception. Makes conforming changes to the Retirement Systems Reciprocal Act (Article 20 of the Code). Effective immediately.

Actions 
DateChamber Action
  1/28/2015HouseFiled with the Clerk by Rep. Thomas Morrison
  1/30/2015HouseFirst Reading
  1/30/2015HouseReferred to Rules Committee
  1/10/2017HouseSession Sine Die

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