SB 1218

  • Illinois Senate Bill
  • 98th Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Sch Cd-Prudent Investor

Abstract

Amends the School Code. Provides that, beginning January 1, 2015, if a school board other than the Chicago Board of Schools offers a 403(b) plan to its officers, employees, or both, or makes contributions to such a plan on behalf of its officers, employees, or both, then the plan sponsor must act in accordance with the prudent investor rule when making plan-related decisions. Amends the State Mandates Act to require implementation without reimbursement.

Bill Sponsors (1)

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Jan 13, 2015

Senate

Session Sine Die

Mar 22, 2013

Senate

Rule 3-9(a) / Re-referred to Assignments

Feb 28, 2013

Senate

Postponed - Financial Institutions

Feb 07, 2013

Senate

Assigned to Financial Institutions

Feb 06, 2013

Senate

Added as Chief Co-Sponsor Sen. Terry Link

Feb 04, 2013

Senate

Added as Co-Sponsor Sen. Heather A. Steans

Jan 30, 2013

Senate

Filed with Secretary by Sen. Daniel Biss

Senate

Referred to Assignments

Senate

First Reading

Bill Text

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