Bill Status of HB2760 100th General Assembly
Short Description: PEN CD-SURS-ROTH ACCOUNT
Rep. Joe Sosnowski
|Personnel & Pensions Committee Hearing Mar 30 2017 10:00AM Capitol Building Room 122B Springfield, IL |
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the State Universities Article of the Illinois Pension Code. In a Section relating to the self-managed plan, provides that pursuant to federal law, all employees with applicable retirement plans will be provided options to: (i) establish, (ii) contribute to, and (iii) transfer any guaranteed or vested portion of their traditional accounts, on any day, into qualified in-plan Roth accounts, without distribution. Effective immediately.