PENCD-DEFERRED COMP-ENROLLMENT

Amends the Deferred Compensation Article of the Illinois Pension Code. In a provision concerning automatic enrollment into the deferred compensation plan for certain employees, provides that an employee hired on or after January 1, 2024 shall be automatically enrolled in the Plan beginning the first day of the pay period following the close of the notice period, unless the employee elects otherwise within the notice period. Provides that during the notice period, an employee may elect to not participate in the Plan or to increase or reduce the amount of pre-tax gross compensation deferred. Defines "notice period" as a reasonable period of time after the employee receives an automatic enrollment notice. Sets forth provisions concerning withdrawal from the Plan and refunds.