IL SB0040

Allows General Assembly Retirement System members who are members on the effective date of this amendment to file a written notice to opt out of the system within 24 months of becoming a member or 18 months after the amendment's effective date, whichever is later.

Members who elect not to participate may request a refund of their total contributions without interest upon written request.

Amends sections 2-117 and 2-123 of the Illinois Pension Code governing the General Assembly Retirement System.

Takes effect immediately upon becoming law.