IL HB3082

Amends the Illinois Pension Code to add automatic enrollment provisions for the State Employees Deferred Compensation Plan for eligible new employees.

Requires automatic enrollment of employees who become members of retirement systems under Articles 2, 14, or 18, beginning 6 months after the effective date of this act.

Automatically defers 3% of pre-tax gross compensation for newly enrolled employees into their deferred compensation accounts.

Allows employees 30 days from their start date to opt out of the plan or adjust their deferral amount, with automatic enrollment beginning on the first pay period after day 30 of employment.

Permits employees who are automatically enrolled to withdraw from the plan within 90 days and receive a refund, but such employees forfeit any employer matching contributions made prior to withdrawal.