Illinois 104th General Assembly Status: Introduced Bipartisan · 3 R · 1 D cosponsors

SB2342      — PEN CD-SERS-DC PLAN

Last action — Added as Co-Sponsor Sen. Lakesia Collins

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  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced February 07, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Stalled 30% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • Introduced

    Current position in the legislative process.

  • 4 sponsors

    1 primary, 3 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (3 R · 1 D) — cross-party backing.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the Illinois Pension Code. Requires the State Employees' Retirement System of Illinois to prepare and implement a defined contribution plan by July 1, 2027 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 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. 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". Makes conforming and other changes. Makes related changes in the State Employees Group Insurance Act of 1971. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read SB2342 on the official Illinois source →

Action History

  1. Added as Co-Sponsor Sen. Lakesia Collins

  2. Added as Co-Sponsor Sen. Jil Tracy

  3. Added as Co-Sponsor Sen. Neil Anderson

  4. Referred to Assignments

  5. First Reading

  6. Filed with Secretary by Sen. Chris Balkema

Sponsors

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 179 not signed on

Sponsors (1)

Co-sponsors (3)

Not signed on (179)

179 members have not signed on to this bill.

Show all 179 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB2342      do?
Amends the Illinois Pension Code. Requires the State Employees' Retirement System of Illinois to prepare and implement a defined contribution plan by July 1, 2027 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 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. 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". Makes conforming and other changes. Makes related changes in the State Employees Group Insurance Act of 1971. Effective immediately.
Who sponsors SB2342     ?
SB2342      is sponsored by Chris Balkema (Republican), Neil Anderson (Republican), Jil Tracy (Republican), and Lakesia Collins (Democrat).
What is the current status of SB2342     ?
This bill has been introduced in the Senate. Introduced February 07, 2025. It must pass committee before a floor vote.
Where can I track SB2342     ?
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Last checked for changes 4 months ago · updated continuously

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