Bill Title: 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.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-01-30 - Referred to Rules Committee [HB0426 Detail]

Text: Latest bill text (Introduced) [HTML]

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