Illinois · House Bill 2765 · 104th General Assembly

PEN CD-DEFERRED RETIRE OPTION

HB 2765 Sponsored by Jackie Haas In committee

  1. Introduced Feb 5, 2025
  2. In committee Feb 6, 2025
  3. Passed the House Next
  4. Passed the Senate  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Illinois Pension Code. Creates the Deferred Retirement Option Article. Provides a deferred retirement option plan (DROP) for certain participants under the Downstate Teacher Article who are eligible to retire and meet other criteria. Provides that a participant in the DROP may elect to participate for up to 5 years. Provides that on the effective date of the member's election, the System shall credit the…

Read the full title (194 words)

Amends the Illinois Pension Code. Creates the Deferred Retirement Option Article. Provides a deferred retirement option plan (DROP) for certain participants under the Downstate Teacher Article who are eligible to retire and meet other criteria. Provides that a participant in the DROP may elect to participate for up to 5 years. Provides that on the effective date of the member's election, the System shall credit the member's account on a monthly basis, for as long as the member participates in the DROP, an amount equal to the monthly amount of retirement annuity the member would otherwise be eligible to receive had the member retired on the date of the election. Provides that the DROP member shall be considered in active service for purposes of participation in a collective bargaining agreement, for health care benefits, and for other purposes. Establishes a DROP administered by the State Treasurer for pension funds or retirement systems that are required to establish a DROP and elect to transfer administrative responsibility for the DROP to the State Treasurer. Sets forth provisions concerning interest on the account; termination of the DROP; contributions; administrative costs; and a DROP advisory board. Effective immediately.

Every action

7 steps, oldest first, as the legislature records them.

  1. HouseFiled with the Clerk by Rep. Jackie Haas
  2. HouseFirst Reading
  3. CommitteeReferred to Rules Committee · House Rules
  4. CommitteeAssigned to Appropriations-Pensions & Personnel · House Approp-Pensions & Personnel
  5. CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules
  6. CommitteeAssigned to Appropriations-Pensions & Personnel · House Approp-Pensions & Personnel
  7. CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.