Illinois SB 1933: PENCD-TRS-DEFINED CONTRIBUTION

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB1933

Introduced 2/6/2025, by Sen. Robert F. Martwick 

SYNOPSIS AS INTRODUCED:

40 ILCS 5/16-204

 Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that the System shall offer a defined contribution benefit to active full-time and part-time contractual members of the System who are employed by an employer eligible to participate in the defined contribution benefit under applicable law (instead of offering a defined contribution benefit to active members of the System). Makes conforming changes. Provides that a member who is automatically enrolled shall have 3% of his or her pre-tax compensation (instead of pre-tax gross compensation for each compensation period) deferred into his or her deferred compensation account. Provides that a member shall be automatically enrolled in the defined contribution benefit beginning the first day of the pay period following the close of the notice period, or as soon as practicable, unless the employee elects otherwise within the notice period (instead of the member's 30th day of employment). Defines "notice period". Makes changes concerning withdrawal of contributions and forfeiture of employer matching contributions. Provides that active members eligible to participate in the defined contribution benefit do not include employees of a department as defined in the State Employees Article.

LRB104 10220 RPS 20294 b

A BILL FOR

SB1933LRB104 10220 RPS 20294 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 16-204 as follows:

6 (40 ILCS 5/16-204)

7