HB3349 EngrossedLRB103 29932 RPS 56347 b HB3349 Engrossed LRB103 29932 RPS 56347 b
HB3349 Engrossed LRB103 29932 RPS 56347 b
1 AN ACT concerning education.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Board of Higher Education Act is amended by
5 adding Section 9.43 as follows:
6 (110 ILCS 205/9.43 new)
7 Sec. 9.43. Financial literacy training program for public
8 employees.
9 (a) The General Assembly finds that financial literacy for
10 public employees is a statewide goal and that improved
11 financial literacy benefits the public employee, the public
12 retiree, and the agencies that deliver public services by
13 supporting a stable workforce and the economy of the State.
14 (b) Subject to appropriation, the Board of Higher
15 Education shall award a grant to a statewide association of
16 public pension funds affiliated with public institution of
17 higher education to develop and deliver an in-person financial
18 literacy training program for public employees.
19 (c) The program shall consist of in-person training
20 regarding retirement income, including pension benefits,
21 Social Security benefits, and employer-sponsored deferred
22 compensation and retiree health care savings plans. The
23 program shall also include instruction in financial planning
HB3349 Engrossed LRB103 29932 RPS 56347 b
HB3349 Engrossed- 2 -LRB103 29932 RPS 56347 b HB3349 Engrossed - 2 - LRB103 29932 RPS 56347 b
HB3349 Engrossed - 2 - LRB103 29932 RPS 56347 b
1 and important elements of consumer finance, such as debt,
2 educational savings, budgeting, and related subjects. In
3 addition to in-person instruction, the program shall include
4 recorded programs to assist public employees who work on
5 nontraditional shift assignments.
HB3349 Engrossed - 2 - LRB103 29932 RPS 56347 b