PENCD-TRS-DEFINED CONTRIBUTION
Sponsored By: Travis Weaver (Republican)
In Committee
Summary
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.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Travis Weaver
Republican • House
Cosponsors
Steven Reick
Republican • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Rule 19(a) / Re-referred to Rules Committee
3/27/2026HouseAdded Co-Sponsor Rep. Steven Reick
3/24/2026HouseAssigned to Appropriations-Pensions & Personnel
3/18/2026HouseReferred to Rules Committee
2/10/2026HouseFirst Reading
2/10/2026HouseFiled with the Clerk by Rep. Travis Weaver
2/5/2026House
Bill Text
Introduced
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