Illinois General Assembly - Bill Status for SB1647
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 Bill Status of SB1647  103rd General Assembly


Short Description:  PENCD-TRS-DEFINED CONTRIBUTION

Senate Sponsors
Sen. Robert F. Martwick, Laura Fine and Adriane Johnson

Last Action
DateChamber Action
  2/8/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/16-204
40 ILCS 5/16-207 new


Synopsis As Introduced
Amends the Downstate Teacher Article of the Illinois Pension Code. In a provision that requires the System to automatically enroll certain employees in the System's defined contribution benefit, provides an exception for employees whose school district provides an alternative qualifying plan. Provides that the alternative qualifying plan shall abide by the automatic enrollment procedures and automatic increase in contribution provisions applicable to the System's defined contribution benefit. Sets forth additional requirements for alternative qualifying plans. Requires a school district that has an alternative qualifying plan to file a letter of compliance, passed by resolution of the school board, with the System. Effective immediately.

Actions 
DateChamber Action
  2/8/2023SenateFiled with Secretary by Sen. Robert F. Martwick
  2/8/2023SenateFirst Reading
  2/8/2023SenateReferred to Assignments
  2/9/2023SenateAdded as Co-Sponsor Sen. Laura Fine
  2/15/2023SenateAdded as Co-Sponsor Sen. Adriane Johnson

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