Illinois General Assembly - Bill Status for HB2745

Synopsis As Introduced
Amends the General Assembly Article of the Illinois Pension Code. Requires the General Assembly Retirement System to establish a self-directed retirement plan. Provides that for persons who become participants on or after the effective date of the amendatory Act, participation in the System shall be limited to participation in the self-directed retirement plan. Allows a Tier 1 or Tier 2 participant to make an irrevocable election to participate in the self-directed retirement plan instead of the defined benefit plan. Makes changes to the pensionable salary for active participants. Provides that upon a participant's first day of participation in the self-directed retirement plan, the participant becomes vested in his or her contributions to the self-directed retirement plan, the employer's contributions to the self-directed retirement plan, and the investment returns attributable to those contributions credited to his or her account.

Actions

Date	Chamber	Action
2/14/2019	House	Filed with the Clerk by Rep. Thomas Morrison
2/14/2019	House	First Reading
2/14/2019	House	Referred to Rules Committee
2/26/2019	House	Assigned to Personnel & Pensions Committee
3/6/2019	House	To Pension Reform Subcommittee
3/29/2019	House	Rule 19(a) / Re-referred to Rules Committee
1/13/2021	House	Session Sine Die

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