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IL HB2378

IL HB2378
PEN CD/GROUP INS-SURS SMP


summary

Introduced
01/31/2025
In Committee
04/11/2025
Crossed Over
Passed
Dead

Introduced Session

Potential new amendment
104th General Assembly

Bill Summary

Amends the State Employees Group Insurance Act of 1971. Adds to the definition of "community college benefit recipient" a person who is receiving retirement income from a self-managed plan account under the State Universities Article of the Illinois Pension Code and who meets other requirements. Amends the State Universities Article of the Illinois Pension Code. In the definition of "retire" and "retirement", provides that a participant in the self-managed plan retires, and the participant's retirement begins, when the participant is eligible for retirement under the Article, and the Retirement System Reciprocal Act (Article 20 of the Code) if applicable, and the participant begins receiving retirement income from the participant's self-managed plan account.

AI Summary

This bill amends the State Employees Group Insurance Act of 1971 and the Illinois Pension Code to modify definitions related to retirement and group insurance benefits, specifically for community college employees. The bill expands the definition of "community college benefit recipient" to include people receiving retirement income from a self-managed plan account under the State Universities Article of the Illinois Pension Code. It also clarifies that for participants in the self-managed plan, retirement begins when the participant is eligible for retirement under the applicable pension code articles and starts receiving retirement income from their self-managed plan account. The changes aim to provide more precise language around retirement status and eligibility for group insurance benefits, particularly for community college employees who may have alternative retirement arrangements like self-managed plan accounts. This update helps ensure that employees who choose different retirement options can still access group insurance benefits consistent with traditional retirement pathways.

Committee Categories

Budget and Finance

Sponsors (17)

Last Action

Added Co-Sponsor Rep. Will Guzzardi (on 04/15/2025)

bill text


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