PENCD-STATE SYS-DC PLAN Senate SponsorsSen. Craig Wilcox 1/10/2023SenateSession Sine Die 5 ILCS 375/3from Ch. 127, par. 5235 ILCS 375/10from Ch. 127, par. 53040 ILCS 5/1-16040 ILCS 5/1-16140 ILCS 5/2-105.3 new40 ILCS 5/2-16240 ILCS 5/2-165.5 new40 ILCS 5/14-103.4140 ILCS 5/14-152.140 ILCS 5/14-155.5 new40 ILCS 5/15-108.140 ILCS 5/15-108.240 ILCS 5/15-108.3 new40 ILCS 5/15-19840 ILCS 5/15-200.5 new40 ILCS 5/16-106.4140 ILCS 5/16-20340 ILCS 5/16-205.5 new40 ILCS 5/18-110.1 new40 ILCS 5/18-121.5 new40 ILCS 5/18-124from Ch. 108 1/2, par. 18-12440 ILCS 5/18-125from Ch. 108 1/2, par. 18-12540 ILCS 5/18-125.1from Ch. 108 1/2, par. 18-125.140 ILCS 5/18-127from Ch. 108 1/2, par. 18-12740 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.0140 ILCS 5/18-133from Ch. 108 1/2, par. 18-13340 ILCS 5/18-16940 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. 20-125Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Requires each System to prepare and implement a defined contribution plan by July 1, 2023 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 irrevocably 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. Makes related changes in the State Employees Group Insurance Act of 1971. Effective immediately. 2/26/2021SenateFiled with Secretary by Sen. Craig Wilcox 2/26/2021SenateFirst Reading 2/26/2021SenateReferred to Assignments 3/23/2021SenateAssigned to Pensions 4/16/2021SenateRule 3-9(a) / Re-referred to Assignments 1/10/2023SenateSession Sine Die