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 Bill Status of SB1218  98th General Assembly


Short Description:  SCH CD-PRUDENT INVESTOR

Senate Sponsors
Sen. Daniel Biss - Terry Link and Heather A. Steans

Last Action
DateChamber Action
  1/13/2015SenateSession Sine Die

Statutes Amended In Order of Appearance
105 ILCS 5/10-20.55 new
30 ILCS 805/8.37 new


Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/30/2013SenateFiled with Secretary by Sen. Daniel Biss
  1/30/2013SenateFirst Reading
  1/30/2013SenateReferred to Assignments
  2/4/2013SenateAdded as Co-Sponsor Sen. Heather A. Steans
  2/6/2013SenateAdded as Chief Co-Sponsor Sen. Terry Link
  2/7/2013SenateAssigned to Financial Institutions
  2/28/2013SenatePostponed - Financial Institutions
  3/22/2013SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2015SenateSession Sine Die

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