IL HB2778

Requires the Board of Higher Education to award a grant to a statewide association of public pension funds affiliated with a public institution of higher education to create a financial literacy training program for public employees

Training program must cover retirement income topics including pension benefits, Social Security benefits, employer-sponsored deferred compensation, and retiree healthcare savings plans

Program must include instruction on financial planning and consumer finance topics such as debt management, educational savings, and budgeting

Training will be delivered in-person, with recorded versions available to accommodate public employees working nontraditional shifts

Implementation is subject to appropriation of funds by the legislature