IL SB3914

Expands the definition of "community college benefit recipient" under the State Employees Group Insurance Act of 1971 to include persons receiving retirement income from a self-managed plan account under the State Universities Article of the Illinois Pension Code who meet other specified requirements.

Amends the State Universities Article of the Illinois Pension Code to clarify when self-managed plan participants qualify as "retired" and when their retirement begins.

Establishes that self-managed plan participants are considered retired when they are eligible for retirement under the Article (and the Retirement System Reciprocal Act if applicable) and begin receiving retirement income from their self-managed plan account.

Enables self-managed plan participants in the State Universities Retirement System to access group insurance benefits available to other retirees upon meeting retirement eligibility criteria.