Sen. Robert F. Martwick
Filed: 4/2/2025
 
 

 
 

 
10400SB1455sam001LRB104 08299 RPS 24241 a

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AMENDMENT TO SENATE BILL 1455 

2    AMENDMENT NO. ______. Amend Senate Bill 1455 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 
 
 
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1varying types of programs for this purpose. Beginning January 
21, 2026, the Department of Central Management Services shall 
3provide for the recovery of its expenses for administering the 
4Plan pursuant to Section 24-105 by charging fees equitably 
5prorated among the participating employers. 
6    All sums advanced by appropriation to the State Board of 
7Investment for the costs of the development and establishment 
8of the Plan shall be repaid to the State treasury Treasury not 
9later than June 30, 1986, without interest. The Plan shall 
10provide for such repayment and may, for that purpose, provide 
11for the recovery of the development and establishment costs by 
12amortizing them as a part of the administrative expenses of 
13the Plan over a period of years ending not later than June 30, 
141986.
15(Source: P.A. 79-384.)
 
16    Section 90. The State Mandates Act is amended by adding 
17Section 8.49 as follows:
 
18    (30 ILCS 805/8.49 new)
19    Sec. 8.49. Exempt mandate. Notwithstanding Sections 6 and 
208 of this Act, no reimbursement by the State is required for 
21the implementation of any mandate created by this amendatory 
22Act of the 104th General Assembly. 
 
23    Section 99. Effective date. This Act takes effect upon 
 
 
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1becoming law.".