Sen. Robert F. Martwick
Filed: 4/4/2024
 
 

 
 

 
10300SB2607sam001LRB103 34461 RPS 71824 a

1
AMENDMENT TO SENATE BILL 2607 

2    AMENDMENT NO. ______. Amend Senate Bill 2607 by replacing 
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Pension Code is amended by 
5changing Section 24-104.1 as follows:
 
6    (40 ILCS 5/24-104.1)  (from Ch. 108 1/2, par. 24-104.1)
7    Sec. 24-104.1. Recovery of expenses. The Plan developed 
8under Section 24-104 shall also provide for the recovery of 
9the expenses of its administration by charging such expenses 
10against the earnings from investments or by charging fees 
11equitably prorated among the participating State employees or 
12by such other appropriate and equitable method as the Board 
13shall determine. Different methods for recovery of 
14administrative expenses may be provided in relation to 
15different types of investment programs and the Board may 
16provide for the allocation of administration expenses among 
 
 
10300SB2607sam001- 2 -LRB103 34461 RPS 71824 a

1varying types of programs for this purpose.
2    All sums advanced by appropriation to the State Board of 
3Investment for the costs of the development and establishment 
4of the Plan shall be repaid to the State Treasury not later 
5than June 30, 1986, without interest. The Plan shall provide 
6for such repayment and may, for that purpose, provide for the 
7recovery of the development and establishment costs by 
8amortizing them as a part of the administrative expenses of 
9the Plan over a period of years ending not later than June 30, 
101986.
11    Beginning July 1, 2024, the expenses of the Department of 
12Central Management Services in relation to its administration 
13of the Plan pursuant to Section 24-105 shall be borne by the 
14Department of Central Management Services. 
15(Source: P.A. 79-384.)
 
16    Section 99. Effective date. This Act takes effect upon 
17becoming law.".