Daniel Biss
- Democratic
Primary
Amends the State Universities Article of the Illinois Pension Code. Requires the System to provide advance notice to a participant in the self-managed plan of the participant's obligation to direct the investment of employee and employer contributions into one or more investment funds selected by the System at the time he or she makes his or her initial retirement plan selection. Provides that if a participant in the self-managed plan fails to direct the investment of employee and employer contributions into the various investment options offered to the participant when making his or her initial retirement election choice, the System shall invest the employee and employer contributions in a default investment fund on behalf of the participant, and the investment shall be deemed to have been made at the participant's investment direction. Provides that the participant has the right to transfer account balances out of the default investment fund during time periods designated by the System. Effective immediately.
Session Sine Die
Referred to Rules Committee
First Reading
Chief House Sponsor Rep. Elaine Nekritz
Arrived in House
Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
Third Reading - Passed; 057-000-000
Placed on Calendar Order of 3rd Reading April 13, 2016
Second Reading
Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
Do Pass as Amended Licensed Activities and Pensions; 010-000-000
Senate Committee Amendment No. 2 Adopted
Placed on Calendar Order of 2nd Reading April 5, 2016
Senate Committee Amendment No. 2 Assignments Refers to Licensed Activities and Pensions
Senate Committee Amendment No. 2 Referred to Assignments
Senate Committee Amendment No. 2 Filed with Secretary by Sen. Daniel Biss
Senate Committee Amendment No. 1 Assignments Refers to Licensed Activities and Pensions
Senate Committee Amendment No. 1 Referred to Assignments
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Daniel Biss
Assigned to Licensed Activities and Pensions
First Reading
Referred to Assignments
Filed with Secretary by Sen. Daniel Biss
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML |
| Engrossed | HTML |
| Document | Format |
|---|---|
| Senate Amendment 002 | |
| Senate Amendment 001 |
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.