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SB3075 - 104th General Assembly
PEN CD-ST SYS-DC PLAN
Last Action
Statutes Amended In Order of Appearance
5 ILCS 375/3from Ch. 127, par. 523
5 ILCS 375/10from Ch. 127, par. 530
40 ILCS 5/2-165.5 new
40 ILCS 5/14-103.05from Ch. 108 1/2, par. 14-103.05
40 ILCS 5/14-155.5 new
40 ILCS 5/15-108.3 new
40 ILCS 5/15-134from Ch. 108 1/2, par. 15-134
40 ILCS 5/15-200.5 new
40 ILCS 5/16-106.42 new
40 ILCS 5/16-106.43 new
40 ILCS 5/16-123from Ch. 108 1/2, par. 16-123
40 ILCS 5/16-205.5 new
40 ILCS 5/18-110.1 new
40 ILCS 5/18-110.2 new
40 ILCS 5/18-110.3 new
40 ILCS 5/18-121.5 new
40 ILCS 5/18-124from Ch. 108 1/2, par. 18-124
40 ILCS 5/18-125from Ch. 108 1/2, par. 18-125
40 ILCS 5/18-125.1from Ch. 108 1/2, par. 18-125.1
40 ILCS 5/18-127from Ch. 108 1/2, par. 18-127
40 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.01
40 ILCS 5/18-133from Ch. 108 1/2, par. 18-133
40 ILCS 5/20-121from Ch. 108 1/2, par. 20-121
40 ILCS 5/20-123from Ch. 108 1/2, par. 20-123
40 ILCS 5/20-124from Ch. 108 1/2, par. 20-124
40 ILCS 5/20-125from Ch. 108 1/2, par. 20-125
Synopsis As Introduced
Amends the Illinois Pension Code. With respect to the 5 State-funded Retirement Systems: requires each System to prepare and implement a defined contribution plan by July 1, 2028 that aggregates State and employee contributions in individual participant accounts that are used for payouts after retirement. Provides that a Tier 1 or Tier 2 participant may elect to participate in the defined contribution plan instead of the defined benefit plan and may also elect to terminate all participation in the defined benefit plan and to have a specified amount credited to his or her account under the defined contribution plan. Provides that, if a person who made the election to participate in the defined contribution plan terminates service and thereafter returns to service, he or she may either elect to participate in the defined contribution plan with regard to that service or not elect to participate in the defined contribution plan with regard to that service. Provides that an employee may elect not to participate in the System by notifying the System in writing in a manner specified by the System. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". In the State Employees, State Universities, and Downstate Teachers Articles, provides that a person who first becomes an employee after the effective date of the amendatory Act is not required to participate in the System as a condition of employment. Makes conforming and other changes. Makes related changes in the State Employees Group Insurance Act of 1971. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/29/2026 | Senate | Filed with Secretary by Sen. Chris Balkema |
| 1/29/2026 | Senate | First Reading |
| 1/29/2026 | Senate | Referred to Assignments |