HB 4497

  • Illinois House Bill
  • 97th Regular Session
  • Introduced in House
  • House
  • Senate
  • Governor

Illinois Automatic Ira Act

Abstract

Creates the Illinois Automatic IRA Program Act. Provides that the Illinois Automatic IRA Program shall be administered by the State Treasurer and that the Treasurer shall adopt regulations to implement the Program. Allows employees of certain employers that have not offered a qualified retirement plan for 2 years to set aside a percentage of their wages to be deposited into an IRA trust fund administered by the State Treasurer's office. Sets minimum requirements for the operation of the Program. Sets forth duties and authority of the State Treasurer in relation to the Program. Limits State and employer liability. Contains provisions regarding audits and reports. Effective immediately.

Bill Sponsors (1)

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Actions


Jan 08, 2013

House

Session Sine Die

Mar 09, 2012

House

Rule 19(a) / Re-referred to Rules Committee

Feb 27, 2012

House

Assigned to State Government Administration Committee

Feb 08, 2012

House

Remove Chief Co-Sponsor Rep. Carol A. Sente

House

Added Chief Co-Sponsor Rep. Kimberly du Buclet

House

Chief Sponsor Changed to Rep. Deborah Mell

House

Added Chief Co-Sponsor Rep. Carol A. Sente

Jan 31, 2012

House

Filed with the Clerk by Rep. Carol A. Sente

House

Referred to Rules Committee

House

First Reading

Bill Text

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Sources

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