Illinois SB 690: PUBLIC EMPLOYEE BENEFITS-TECH
Status: Rule 3-9(a) / Re-referred to Assignments (as of 2025-04-11)
State: Illinois · Session: 104th · Bill: SB 690
Sponsors: Don Harmon
Bill Text
• Illinois General Assembly - Full Text of SB0690 • • • • • • • • • • • • Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV • • LEGISLATION & LAWS • Bills & Resolutions • Public Acts • Illinois Compiled Statutes • Illinois Constitution • Search Legislation • Glossary • Guide • Reports & Inquiry • Legislative Reports • Special Reports • FTP Site • Legislator Lookup • Capitol Complex Phone Numbers • Rules & Regulations • Illinois Register • Administrative Rules • Senate • Members • Schedules • Committees • Request for Remote Testimony • Journals • Transcripts • Rules • Audio/Video • FOIA Information • Senate Employment Opportunities • Media Guidelines • House • Members • Schedules • Committees • Submit testimony for House Committees • Journals • Transcripts • Rules • Audio/Video • FOIA Information • House Employment Opportunities • Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of SB0690 • Home • Legislation • Full Text SB0690 - 104th General Assembly • Bill Status • Full Text • Votes • Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB0690 Introduced 1/24/2025, by Sen. Don Harmon SYNOPSIS AS INTRODUCED: 40 ILCS 5/24-101 from Ch. 108 1/2, par. 24-101 Amends the Illinois Pension Code. Makes a technical change in a Section concerning deferred compensation. LRB104 06998 RPS 17035 b A BILL FOR SB0690LRB104 06998 RPS 17035 b 1 AN ACT concerning public employee benefits. 2 Be it enacted by the People of the State of Illinois, 3represented in the General Assembly: 4 Section 5. The Illinois Pension Code is amended by 5changing Section 24-101 as follows: 6 (40 ILCS 5/24-101) (from Ch. 108 1/2, par. 24-101) 7 Sec. 24-101. Notwithstanding any law to the the contrary, 8the State of Illinois or any unit of local government or school 9district may enter into a written contract with any of its 10employees to defer a part of their gross compensation and may 11invest such funds in any such manner as prescribed by the 12deferred compensation program adopted by it under this 13Article. Compensation deferred pursuant to a deferred 14compensation program adopted under this Article shall not 15exceed the amount of compensation allowed to be deferred 16without being subject to income tax in the year in which it is 17earned, pursuant to Section 457 of the United States Internal 18Revenue Code or laws supplementary or amendatory thereto. 19 It is hereby declared to be in the public interest to 20provide public employees with a plan for the deferral of 21compensation and the accrual of income and gain thereon if 22such deferred compensation be invested, and to encourage the 23continued service of public employees by making available such SB0690- 2 -LRB104 06998 RPS 17035 b 1bene
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