Illinois 2025-2026 Regular Session

Illinois Senate Bill SB1692 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1692 Introduced 2/5/2025, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED: New Act 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". LRB104 09913 RPS 19983 b A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1692 Introduced 2/5/2025, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED: New Act New Act 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". LRB104 09913 RPS 19983 b LRB104 09913 RPS 19983 b A BILL FOR
2	2	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1692 Introduced 2/5/2025, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED:
3	3	New Act New Act
4	4	New Act
5	5	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".
6	6	LRB104 09913 RPS 19983 b LRB104 09913 RPS 19983 b
7	7	LRB104 09913 RPS 19983 b
8	8	A BILL FOR
9	9	SB1692LRB104 09913 RPS 19983 b SB1692 LRB104 09913 RPS 19983 b
10	10	SB1692 LRB104 09913 RPS 19983 b
11	11	1 AN ACT concerning public employee benefits.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 1. Short title. This Act may be cited as the Local
15	15	5 Government Retirement Plan Responsibility Act.
16	16	6 Section 5. Definition. In this Act:
17	17	7 "Retirement plan" means an eligible plan under Section 457
18	18	8 or Section 403(b) of the Internal Revenue Code.
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22	22	104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1692 Introduced 2/5/2025, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED:
23	23	New Act New Act
24	24	New Act
25	25	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".
26	26	LRB104 09913 RPS 19983 b LRB104 09913 RPS 19983 b
27	27	LRB104 09913 RPS 19983 b
28	28	A BILL FOR
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34	34	New Act
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38	38	LRB104 09913 RPS 19983 b
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40	40
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48	48	SB1692 LRB104 09913 RPS 19983 b