PEN CD-SURS-PARTICIPANT DATA

This bill updates the Illinois Pension Code to define 'stakeholder' as nonprofit organizations that represent at least 10% of participants or annuitants in the State Universities Retirement System. It requires the Board of Trustees to provide an annual report to these stakeholders, detailing names and employer information of annuitants and active participants, along with their zip codes, delivered electronically each August 1st.

Supporters of this bill would argue that it enhances transparency and accountability within the State Universities Retirement System by ensuring that stakeholders have access to important participant data. They might highlight that this measure empowers nonprofit organizations to better serve their members and advocate for their interests.

Critics may contend that the bill raises privacy concerns by mandating the disclosure of personal information such as names and addresses of annuitants and participants. They could argue that this requirement may lead to potential misuse of sensitive data and undermine the confidentiality of individuals within the pension system.