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Bill

SB 2342

PEN CD-SERS-DC PLAN

104th Regular Session Introduced by Neil Anderson and 3 co-sponsors

Illinois bill modifies public employee pension plan structures under CD-SERS, affecting retirement benefits and funding obligations for civic employees statewide.

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WeVote Research Nonpartisan
Bill Summary · SB 2342

Legislative bill overview

SB 2342 proposes modifications to Illinois's Civic Employees' Pension System (CD-SERS) and the Defined Contribution plan structure for public employees. The bill appears to adjust pension plan provisions, though the specific technical changes are not detailed in the available filing information. The measure has garnered bipartisan support with sponsors from both parties.

Why is this important

Pension system reforms directly affect current and future public employee benefits, retirement security, and municipal/state pension fund obligations. Illinois has faced significant pension funding challenges, making any structural changes to retirement plans consequential for both employees and taxpayers funding these obligations.

Potential points of contention

  • Benefit restructuring concerns: Changes to defined contribution plans could alter retirement security for public employees, potentially affecting recruitment and retention of public sector workers
  • Funding implications: Modifications may shift costs between employer contributions, employee contributions, and long-term pension liabilities
  • Equity among employee groups: Different employee classes may experience varying impacts depending on plan design changes, raising fairness questions

Compiled from official sources — confirm details with the bill’s official record.

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