# Illinois SB2342: PEN CD-SERS-DC PLAN

Illinois SB2342, PEN CD-SERS-DC PLAN, is a 104th General Assembly (2025–2026) Senate bill sponsored by Chris Balkema (Republican); status in committee, last action 2025-04-10 (Added as Co-Sponsor Sen. Lakesia Collins) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB2342-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB2342
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: PEN CD-SERS-DC PLAN
- Status: in committee
- Chamber: Senate
- Introduced: 2025-02-07
- Last action: 2025-04-10, Added as Co-Sponsor Sen. Lakesia Collins
- Sponsor: Chris Balkema (Republican)
- Cosponsors: 3
- Subjects: assignments
- Touches household money: no
- Economic provisions PRIA read: 0

## 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 overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Chris Balkema (Republican), Senate
- Cosponsor: Jil Tracy (Republican), Senate
- Cosponsor: Lakesia Collins (Democratic), Senate
- Cosponsor: Neil Anderson (Republican), Senate

## Actions (6)

- 2025-04-10: Added as Co-Sponsor Sen. Lakesia Collins (Senate)
- 2025-03-07: Added as Co-Sponsor Sen. Jil Tracy (Senate)
- 2025-03-06: Added as Co-Sponsor Sen. Neil Anderson (Senate)
- 2025-02-07: Referred to Assignments (Senate)
- 2025-02-07: First Reading (Senate)
- 2025-02-07: Filed with Secretary by Sen. Chris Balkema (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB2342.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB2342.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-SB2342-2025-2026 (as of 2026-11-01).