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SB1456 - 104th General Assembly
PEN CD-BOARD MEMBER TRAINING
Last Action
Statutes Amended In Order of Appearance
40 ILCS 5/1-109.4 new
Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Pension Board Member Training Act. Provides that the Department of Insurance shall develop and implement a curriculum designed to provide pension board members with necessary education on specified topics, including legal and fiduciary responsibilities, investment strategies, ethical considerations, and actuarial assessments and reporting requirements. Provides that the curriculum shall be made available online to all pension board members. Requires every pension board member to complete the training provided by the Department on an annual basis. Provides that attendance at pension board meetings shall not be deemed to fulfill the annual training requirement. Sets forth provisions concerning definitions; Department responsibilities and rulemaking; and documentation.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/31/2025 | Senate | Filed with Secretary by Sen. Robert F. Martwick |
| 1/31/2025 | Senate | First Reading |
| 1/31/2025 | Senate | Referred to Assignments |
| 2/11/2025 | Senate | Assigned to Pensions |
| 3/19/2025 | Senate | Do Pass Pensions; 007-003-000 |
| 3/19/2025 | Senate | Placed on Calendar Order of 2nd Reading March 20, 2025 |
| 4/03/2025 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick |
| 4/03/2025 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 4/08/2025 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Pensions |
| 4/08/2025 | Senate | Second Reading |
| 4/08/2025 | Senate | Placed on Calendar Order of 3rd Reading April 9, 2025 |
| 4/09/2025 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Pensions; 009-000-000 |
| 4/11/2025 | Senate | Rule 2-10 Third Reading Deadline Established As May 9, 2025 |
| 5/06/2025 | Senate | Senate Floor Amendment No. 2 Filed with Secretary by Sen. Robert F. Martwick |
| 5/06/2025 | Senate | Senate Floor Amendment No. 2 Referred to Assignments |
| 5/07/2025 | Senate | Senate Floor Amendment No. 2 Assignments Refers to Pensions |
| 5/09/2025 | Senate | Rule 2-10 Third Reading Deadline Established As May 23, 2025 |
| 5/23/2025 | Senate | Rule 2-10 Third Reading Deadline Established As June 1, 2025 |
| 6/02/2025 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 7/02/2025 | Senate | Senate Floor Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments |