PENCD-TRS SMP House SponsorsRep. Thomas Morrison 12/3/2014HouseSession Sine Die 40 ILCS 5/16-153.6 new40 ILCS 5/16-153.7 new40 ILCS 5/16-20340 ILCS 5/20-121from Ch. 108 1/2, par. 20-12140 ILCS 5/20-123from Ch. 108 1/2, par. 20-12340 ILCS 5/20-124from Ch. 108 1/2, par. 20-12440 ILCS 5/20-125from Ch. 108 1/2, par. 20-125 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.Pension Note (Government Forecasting & Accountability) SURS is the only State-funded Retirement System that currently offers a Self-Managed Plan (SMP) for employees. SURS' actuaries assume a 15% adoption rate amongst participants. An actuarial study would be needed to assess the long-term impact of the implementation of an SMP in TRS. 2/26/2013HouseFiled with the Clerk by Rep. Thomas Morrison 2/26/2013HouseFirst Reading 2/26/2013HouseReferred to Rules Committee 3/11/2013HouseAssigned to Personnel and Pensions Committee 3/20/2013HousePension Note Filed 3/22/2013HouseRule 19(a) / Re-referred to Rules Committee 12/3/2014HouseSession Sine Die