Illinois House Bill 2623

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 15 2023 - 25% progression
Action: 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

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.

PENCD-TRS-DEFINED CONTRIBUTION

Rep. Stephanie Kifowit [D]

Date	Chamber	Action
2024-04-05	House	Rule 19(a) / Re-referred to Rules Committee
2024-01-31	House	Assigned to Personnel & Pensions Committee
2023-03-10	House	Rule 19(a) / Re-referred to Rules Committee
2023-02-23	House	Assigned to Personnel & Pensions Committee
2023-02-15	House	Referred to Rules Committee
2023-02-15	House	First Reading
2023-02-15	House	Filed with the Clerk by Rep. Stephanie A. Kifowit

Chapter	Article	Section	Citation Type	Statute Text
40	5	16-204	Amended Code	Citation Text
40	5	16-207	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2623&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB2623.htm