Bill Status of SB 2607   103rd General Assembly

Short Description:  PEN CD-DEFERRED COMP-FEES

Senate Sponsors
Sen. Robert F. Martwick

Last Action  View All Actions

DateChamber Action
  1/7/2025SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/24-104.1from Ch. 108 1/2, par. 24-104.1
30 ILCS 805/8.47 new

Synopsis As Introduced
Amends the Deferred Compensation Article of the Illinois Pension Code. Provides that, after January 1, 2024, the deferred compensation plan shall provide for the recovery of the expenses of its administration by charging fees equitably prorated among the participating employers (instead of by charging administrative expenses against the earnings from investments or by charging fees equitably prorated among the participating State employees or by such other appropriate and equitable method as the Illinois State Board of Investment shall determine). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  10/18/2023SenateFiled with Secretary by Sen. Robert F. Martwick
  10/18/2023SenateFirst Reading
  10/18/2023SenateReferred to Assignments
  1/24/2024SenateAssigned to Appropriations
  3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024
  4/4/2024SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
  4/4/2024SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/5/2024SenateRule 2-10 Committee Deadline Established As May 3, 2024
  4/9/2024SenateSenate Committee Amendment No. 1 Assignments Refers to Appropriations
  5/3/2024SenateRule 2-10 Committee/3rd Reading Deadline Established As May 17, 2024
  5/17/2024SenateRule 3-9(a) / Re-referred to Assignments
  5/17/2024SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  1/7/2025SenateSession Sine Die

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