Illinois HB2778 mandates the Board of Higher Education to award a grant for a financial literacy training program for public employees.
HB2778 amends the Board of Higher Education Act to require the Board to award a grant to a statewide association of public pension funds affiliated with a public institution of higher education. The grant will fund an in-person financial literacy training program for public employees. The program will cover retirement income, including pension benefits, Social Security benefits, and employer-sponsored deferred compensation and retiree healthcare savings plans. It will also include instruction in financial planning and consumer finance topics such as debt, educational savings, and budgeting.
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- Critical Issues
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