Illinois HB 2778: BD HIGHR ED-FINANCIAL LITERACY

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB2778

Introduced 2/6/2025, by Rep. Stephanie A. Kifowit 

SYNOPSIS AS INTRODUCED:

110 ILCS 205/9.45 new

 Amends the Board of Higher Education Act. Provides that, subject to appropriation, the Board of Higher Education shall award a grant to a statewide association of public pension funds affiliated with a public institution of higher education to develop and deliver an in-person financial literacy training program for public employees. Provides that the program shall consist of in-person training regarding retirement income, including pension benefits, Social Security benefits, and employer-sponsored deferred compensation and retiree healthcare savings plans and shall also include instruction in financial planning and important elements of consumer finance, such as debt, educational savings, budgeting, and related subjects. Provides that the program shall include recorded programs to assist public employees who work on nontraditional shift assignments.

LRB104 08777 LNS 18831 b

A BILL FOR

HB2778LRB104 08777 LNS 18831 b

1 AN ACT concerning education.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Board of Higher Education Act is amended by 

5adding Section 9.45 as follows:

6 (110 ILCS 205/9.45 new)

7 Sec. 9.45. Financial literacy training program for public 

8employees.

9 (a) The General Assembly finds that financial literacy for 

10public employees is a statewide goal and that improved 

11financial literacy benefits the public employee, the public 

12retiree, and the agencies that deliver public services by 

13supporting a stable workforce and the economy of the State.

14 (b) Subject to approp