Illinois HB 4892: CRIM PRO-EVIDENTIARY SAMPLES

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB4892

Introduced , by Rep. Katie Stuart 

SYNOPSIS AS INTRODUCED:

40 ILCS 5/15-203 new

 Amends the State Universities Article of the Illinois Pension Code. Creates a deferred retirement option plan (DROP) for certain participating employees who are eligible to retire under the Article, have never received a retirement annuity from the System, and are active participants in the System. Provides that, during the period of the DROP, the System shall credit to a notional account on behalf of the DROP member an amount equal to the monthly amount of retirement annuity the DROP member would otherwise be eligible to receive had the DROP member retired on the date of the election. Provides that an eligible member may elect to participate in the DROP for a period not to exceed 5 years from the date of election. Requires a DROP member to terminate employment with the employer upon expiration of their participation in the DROP. Sets forth other provisions concerning interest on the account; termination of the DROP; contributions; administrative costs; transfer of administrative responsibility to the State Treasurer; and the tax-qualified status of the System.

LRB104 17874 RPS 31310 b

A BILL FOR

HB4892LRB104 17874 RPS 31310 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 adding 

5Section 15-203 as follows:

6 (40 ILCS 5/15-203 new)

7 Sec. 15-203. Deferred retirement option plan. 

8 (a) As used in this Section:

9 "Deferred retirement option plan" or "DROP" means the plan 

10created under this Section that provides an alternative