Illinois General Assembly - Bill Status for SB3683

Synopsis As Introduced
Amends the Cook County, Cook County Forest Preserve District, and Metropolitan Water Reclamation District (MWRD) Articles of the Illinois Pension Code. Provides that the employer shall provide a federal tax qualified pre-tax retirement plan otherwise allowed by State and federal law for each employee. Provides that the employer shall automatically enroll employees who become employees or after January 1, 2025 into a federal tax qualified pre-tax retirement plan. Provides for a default contribution amount; collective bargaining; a retirement savings committee; plan document; review of the plan document by the Public Pension Division of the Department of Insurance; and fees charged by the Public Pension Division of the Department of Insurance to the municipality. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions

Date	Chamber	Action
2/9/2024	Senate	Filed with Secretary by Sen. Robert F. Martwick
2/9/2024	Senate	First Reading
2/9/2024	Senate	Referred to Assignments

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