SB 1692
Local govt retirement plans
Local Govt Retirement Plans
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
Creates the Local Government Retirement Plan Responsibility Act. Provides that any retirement plan offered by a unit of local government or school district must comply with the applicable provisions of the General Provisions Article of the Illinois Pension Code, including, but not limited to, fiduciary duties, funding, investments, and the rights of participants, regardless of whether the retirement plan is established under the Illinois Pension Code. Defines "retirement plan".
Sponsors
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Primary sponsor
Robert F. Martwick
Cosponsor
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