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HB5246 - 104th General Assembly
PENCD-TRS-DEFINED CONTRIBUTION
Last Action
Statutes Amended In Order of Appearance
30 ILCS 805/8.50 new
Synopsis As Introduced
Amends the General Provisions and Downstate Teacher Article of the Illinois Pension Code. Provides that a person who first becomes a member on or after the effective date of the amendatory Act who (i) is at least 50 years of age and (ii) does not have any service credit in the System or any other reciprocal System may elect to participate in the defined contribution benefit in lieu of participation in the defined benefit plan under the Article. Provides that the member shall contribute an amount equal to 7.5% of the member's pre-tax salary to the member's defined contribution account. Provides that, in addition, the employer shall contribute 6% of the member's pre-tax salary to the defined contribution account. Provides that a person who participates in the defined contribution plan in lieu of the defined benefit plan may not establish any service credit in the System. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". Makes conforming changes. Amends the State Mandates Act to require implementation without reimbursement by the State. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/05/2026 | House | Filed with the Clerk by Rep. Travis Weaver |
| 2/10/2026 | House | First Reading |
| 2/10/2026 | House | Referred to Rules Committee |
| 3/18/2026 | House | Assigned to Appropriations-Pensions & Personnel |
| 3/24/2026 | House | Added Co-Sponsor Rep. Steven Reick |
| 3/27/2026 | House | Rule 19(a) / Re-referred to Rules Committee |