SB 2103

  • Illinois Senate Bill
  • 102nd Regular Session
  • Introduced in Senate May 07, 2021
  • Passed Senate May 06, 2021
  • Passed House May 27, 2021
  • Became Law Aug 20, 2021

Pen Cd-Various

Abstract

Amends the Illinois Pension Code. In the State Universities Article, provides that the optional defined contribution plan shall provide for one or more automatic contribution arrangements, at least one of which shall be an eligible automatic contribution arrangement that permits a withdrawal of default elective contributions in accordance with a specified provision of the Internal Revenue Code of 1986. In the Illinois Municipal Retirement Fund (IMRF) Article, provides that the amount of the separation benefit shall include interest credited to the end of the preceding calendar year for contributions made under provisions authorizing employees to make additional contributions for retirement annuity purposes. Provides that employees who first participate in the Fund on or after 6 months after the effective date of the amendatory Act shall automatically contribute 3% of each payment of earnings as additional contributions for retirement annuity purposes. Provides that employees may change such contributions to an amount not to exceed 10% of each payment of earnings at any time. Provides that the Board may limit the number of withdrawals of those additional contributions to an amount not less than once per calendar year and may charge an administrative fee. In the Deferred Compensation Article, provides for automatic enrollment of any employee who is a member under the State Employee, Downstate Teacher, or Chicago Teacher Article, regardless of when the employee first became a member under that Article. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately, except that the changes to the IMRF and Deferred Compensation Articles of the Illinois Pension Code and to the State Mandates Act take effect January 1, 2022. Senate Floor Amendment No. 3 Deletes reference to: 40 ILCS 5/7-168 40 ILCS 5/7-173 40 ILCS 5/24-105.2 Adds reference to: 40 ILCS 5/16-204 40 ILCS 5/24-104 from Ch. 108 1/2, par. 24-104 Replaces everything after the enacting clause. Amends the Illinois Pension Code. In the State Universities Article, provides that the System shall offer a deferred compensation plan that is eligible under a specified provision of the Internal Revenue Code of 1986 to participating employees of the System employed by employers that qualify as eligible employers under a specified provision of the Internal Revenue Code of 1986 (instead of offering a defined contribution benefit to active members of the System). Changes references from "defined contribution benefit" to "deferred compensation plan". Provides that the System shall automatically enroll in the eligible deferred compensation plan any employee of an eligible employer who first becomes a participating employee of the System on or after July 1, 2022 under an eligible automatic contribution arrangement. Provides that an employee who is automatically enrolled shall have 3% of his or her compensation for each pay period deferred on a pre-tax basis into his or her account. Provides that an employee may elect not to participate or to increase or reduce the amount of elective deferrals made to the plan. Provides that the System may provide that the default percentage for any employee automatically enrolled in the eligible deferred compensation plan be increased by a specified percentage each plan year after the plan year in which the employee is automatically enrolled in the plan. Provides that the changes are intended to be retroactive to August 10, 2018 (the effective date of Public Act 100-769, which established the defined contribution benefit). In the Downstate Teacher Article, provides that the System may use funds provided under a provision concerning State and employer contributions to defray any and all costs of creating and maintaining the defined contribution benefit and then shall reimburse those costs from funds received from the employee and employer contributions to the defined contribution benefit. Provides that as soon as is practicable on or after January 1, 2022, the System shall automatically enroll any employee in the optional defined contribution benefit who first becomes an active member or participant in the System, and the member shall have 3% of his or her pre-tax gross compensation for each compensation period deferred into his or her deferred compensation account, unless the member otherwise instructs the System. Provides that the System may elect to increase the contribution rate subject to certain restrictions. In the Deferred Compensation Article, provides that pamphlets describing the deferred compensation plan shall not be distributed to employees who are covered under the Illinois Municipal Retirement Fund (IMRF), State Universities, or Downstate Teacher Articles. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. Senate Floor Amendment No. 4 Deletes reference to: 40 ILCS 5/24-104 Adds reference to: 40 ILCS 5/24-102 from Ch. 108 1/2, par. 24-102 In the State Universities Article of the Illinois Pension Code, provides that the System shall automatically enroll in the eligible deferred compensation plan any employee of an eligible employer who first becomes a participating employee of the System on or after July 1, 2023 (rather than July 1, 2022) under an eligible automatic contribution arrangement. In the Public Employees' Deferred Compensation Article of the Illinois Pension Code, provides that "employee", for the purposes of the State Employees Deferred Compensation Plan, does not include a person employed by a certain State university employer who first becomes a participant of the retirement system under the State Universities Article on or after July 1, 2023 unless the person has made an election to defer compensation into the State Employees Deferred Compensation Plan under a written agreement and the deferral election is in effect as of June 30, 2023. Removes language that provides that pamphlets describing the deferred compensation plan shall not be distributed to employees who are covered under the Illinois Municipal Retirement Fund (IMRF), State Universities, or Downstate Teacher Articles.

Bill Sponsors (5)

Votes


Actions


Aug 20, 2021

Senate

Public Act . . . . . . . . . 102-0540

Senate

Effective Date August 20, 2021

Senate

Governor Approved

Jun 25, 2021

Senate

Sent to the Governor

May 27, 2021

House

Third Reading - Consent Calendar - Passed 116-000-000

Senate

Passed Both Houses

May 26, 2021

House

Third Reading - Consent Calendar - First Day

May 25, 2021

House

Placed on Calendar Order of 3rd Reading - Consent Calendar

May 24, 2021

House

Held on Calendar Order of Second Reading - Consent Calendar

House

Second Reading - Consent Calendar

May 20, 2021

House

Do Pass / Consent Calendar Personnel & Pensions Committee; 007-000-000

House

Placed on Calendar 2nd Reading - Consent Calendar

May 13, 2021

House

Committee/Final Action Deadline Extended-9(b) May 28, 2021

House

Assigned to Personnel & Pensions Committee

May 12, 2021

House

Referred to Rules Committee

House

First Reading

May 11, 2021

House

Chief House Sponsor Rep. Michael Halpin

May 07, 2021

House

Arrived in House

May 06, 2021

Senate

Senate Floor Amendment No. 4 Recommend Do Adopt Pensions; 008-000-000

Senate

Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)

Senate

Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)

Senate

Third Reading - Passed; 056-002-000

Senate

Senate Floor Amendment No. 4 Adopted; Martwick

Senate

Recalled to Second Reading

May 05, 2021

Senate

Senate Floor Amendment No. 4 Assignments Refers to Pensions

May 04, 2021

Senate

Senate Floor Amendment No. 4 Referred to Assignments

Senate

Senate Floor Amendment No. 4 Filed with Secretary by Sen. Robert F. Martwick

Apr 30, 2021

Senate

Rule 2-10 Third Reading Deadline Established As May 7, 2021

Apr 23, 2021

Senate

Rule 2-10 Third Reading Deadline Established As April 30, 2021

Apr 22, 2021

Senate

Added as Chief Co-Sponsor Sen. Karina Villa

Senate

Added as Chief Co-Sponsor Sen. John Connor

Senate

Added as Chief Co-Sponsor Sen. Sara Feigenholtz

Apr 21, 2021

Senate

Senate Floor Amendment No. 2 Postponed - Pensions

Senate

Placed on Calendar Order of 3rd Reading April 22, 2021

Senate

Senate Floor Amendment No. 3 Adopted; Martwick

Senate

Second Reading

Senate

Senate Floor Amendment No. 3 Recommend Do Adopt Pensions; 005-002-000

Apr 20, 2021

Senate

Senate Floor Amendment No. 3 Assignments Refers to Pensions

Apr 16, 2021

Senate

Senate Floor Amendment No. 3 Referred to Assignments

Senate

Senate Floor Amendment No. 3 Filed with Secretary by Sen. Robert F. Martwick

Apr 14, 2021

Senate

Senate Floor Amendment No. 2 Postponed - Pensions

Apr 13, 2021

Senate

Senate Floor Amendment No. 2 Assignments Refers to Pensions

Apr 12, 2021

Senate

Senate Floor Amendment No. 2 Referred to Assignments

Senate

Senate Floor Amendment No. 2 Filed with Secretary by Sen. Robert F. Martwick

Mar 24, 2021

Senate

Placed on Calendar Order of 2nd Reading March 25, 2021

Senate

Do Pass Pensions; 008-000-000

Mar 23, 2021

Senate

Senate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick

Senate

Senate Committee Amendment No. 1 Referred to Assignments

Mar 16, 2021

Senate

Assigned to Pensions

Feb 26, 2021

Senate

First Reading

Senate

Referred to Assignments

Senate

Filed with Secretary by Sen. Robert F. Martwick

Bill Text

Bill Text Versions Format
Introduced HTML PDF
Engrossed HTML PDF
Enrolled HTML PDF
Senate Amendment 001 HTML PDF
Senate Amendment 002 HTML PDF
Senate Amendment 003 HTML PDF
Senate Amendment 004 HTML PDF

Related Documents

Document Format
Public Act

Sources

Data on Open States is updated periodically throughout the day from the official website of the Illinois General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.