Illinois House Bill 2851 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 14 2019 - 25% progression, died in committee
Action: 2019-03-29 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the General Assembly, State Employees, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Requires each System to establish a self-managed plan that shall offer participants the opportunity to accumulate assets for retirement through a combination of participant and State contributions that may be invested. Provides that the System shall establish an opening account balance in the self-managed plan for a participant who elects to participate in the self-managed plan and elects to terminate all rights and credits in the System due to previous participation in the traditional benefit package. Provides that a participant in the self-managed plan may not participate in any other retirement program administered by the System. Contains provisions concerning definitions; default investments; contributions; employer pick-up of contributions; vesting; disability benefits; return to service; and termination of the plan. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". Makes other changes. Makes conforming changes in the State Employees Group Insurance Act of 1971. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.

PEN CD-SELF-MANAGED PLAN

Rep. Thomas Morrison [R]

Date	Chamber	Action
2019-03-29	House	Rule 19(a) / Re-referred to Rules Committee
2019-03-06	House	To Pension Reform Subcommittee
2019-02-26	House	Assigned to Personnel & Pensions Committee
2019-02-14	House	Referred to Rules Committee
2019-02-14	House	First Reading
2019-02-14	House	Filed with the Clerk by Rep. Thomas Morrison

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.43	New Code	See Bill Text
40	5	1-160	Amended Code	Citation Text
40	5	1-161	Amended Code	Citation Text
40	5	14-103.42	New Code	See Bill Text
40	5	14-103.43	New Code	See Bill Text
40	5	14-133.2	New Code	See Bill Text
40	5	14-152.1	Amended Code	Citation Text
40	5	16-122.2	New Code	See Bill Text
40	5	16-122.3	New Code	See Bill Text
40	5	16-158.4	New Code	See Bill Text
40	5	16-203	Amended Code	Citation Text
40	5	18-118.1	New Code	See Bill Text
40	5	18-118.2	New Code	See Bill Text
40	5	18-133.2	New Code	See Bill Text
40	5	18-169	Amended Code	Citation Text
40	5	2-105.1	Repealed Code	Citation Text
40	5	2-105.3	New Code	See Bill Text
40	5	2-107.5	New Code	See Bill Text
40	5	2-107.6	New Code	See Bill Text
40	5	2-126.8	New Code	See Bill Text
40	5	2-162	Amended Code	Citation Text
5	375	10	Amended Code	Citation Text
5	375	3	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2851&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB2851.htm