HB 2623

  • Illinois House Bill
  • 103rd Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Pencd-Trs-Defined Contribution

Abstract

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.

Bill Sponsors (1)

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Actions


Apr 05, 2024

House

Rule 19(a) / Re-referred to Rules Committee

Jan 31, 2024

House

Assigned to Personnel & Pensions Committee

Mar 10, 2023

House

Rule 19(a) / Re-referred to Rules Committee

Feb 23, 2023

House

Assigned to Personnel & Pensions Committee

Feb 15, 2023

House

Filed with the Clerk by Rep. Stephanie A. Kifowit

House

Referred to Rules Committee

House

First Reading

Bill Text

Bill Text Versions Format
Introduced HTML PDF

Related Documents

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Sources

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