PEN CD-PRE-TAX RETIREMENT PLAN Senate SponsorsSen. Robert F. Martwick 1/7/2025SenateSession Sine Die 40 ILCS 5/9-242 new40 ILCS 5/10-110 new40 ILCS 5/13-314.5 new30 ILCS 805/8.48 newAmends the Cook County, Cook County Forest Preserve District, and Metropolitan Water Reclamation District (MWRD) Articles of the Illinois Pension Code. Provides that the employer shall provide a federal tax qualified pre-tax retirement plan otherwise allowed by State and federal law for each employee. Provides that the employer shall automatically enroll employees who become employees or after January 1, 2025 into a federal tax qualified pre-tax retirement plan. Provides for a default contribution amount; collective bargaining; a retirement savings committee; plan document; review of the plan document by the Public Pension Division of the Department of Insurance; and fees charged by the Public Pension Division of the Department of Insurance to the municipality. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. 2/9/2024SenateFiled with Secretary by Sen. Robert F. Martwick 2/9/2024SenateFirst Reading 2/9/2024SenateReferred to Assignments 1/7/2025SenateSession Sine Die