IL SB0690

Makes a technical correction to Section 24-101 of the Illinois Pension Code by removing a duplicated word "the" in the phrase "Notwithstanding any law to the contrary"

No substantive changes to the existing law governing deferred compensation programs for public employees

Maintains current authority for the State of Illinois, local governments, and school districts to enter into written contracts with employees to defer gross compensation

Preserves existing limits on deferred compensation amounts, which must comply with Section 457 of the Internal Revenue Code