104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB2778 Introduced , 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 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB2778 Introduced , by Rep. Stephanie A. Kifowit SYNOPSIS AS INTRODUCED: 110 ILCS 205/9.45 new 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 LRB104 08777 LNS 18831 b A BILL FOR
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB2778 Introduced , by Rep. Stephanie A. Kifowit SYNOPSIS AS INTRODUCED:
110 ILCS 205/9.45 new 110 ILCS 205/9.45 new
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 LRB104 08777 LNS 18831 b
LRB104 08777 LNS 18831 b
A BILL FOR
HB2778LRB104 08777 LNS 18831 b HB2778 LRB104 08777 LNS 18831 b
HB2778 LRB104 08777 LNS 18831 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 9.45 as follows:
6 (110 ILCS 205/9.45 new)
7 Sec. 9.45. 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 a 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
104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026 HB2778 Introduced , by Rep. Stephanie A. Kifowit SYNOPSIS AS INTRODUCED:
110 ILCS 205/9.45 new 110 ILCS 205/9.45 new
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 LRB104 08777 LNS 18831 b
LRB104 08777 LNS 18831 b
A BILL FOR
110 ILCS 205/9.45 new
LRB104 08777 LNS 18831 b
HB2778 LRB104 08777 LNS 18831 b
HB2778- 2 -LRB104 08777 LNS 18831 b HB2778 - 2 - LRB104 08777 LNS 18831 b
HB2778 - 2 - LRB104 08777 LNS 18831 b
HB2778 - 2 - LRB104 08777 LNS 18831 b