Date	Chamber	Action
1/11/2011	House	Session Sine Die

Statutes Amended In Order of Appearance

40 ILCS 5/2-103.1 new

40 ILCS 5/2-103.2 new

40 ILCS 5/2-117.4 new

40 ILCS 5/2-126

from Ch. 108 1/2, par. 2-126

40 ILCS 5/2-126.2 new

40 ILCS 5/2-162.1 new

Synopsis As Introduced
Amends the Illinois Pension Code. Requires the General Assembly Retirement System to automatically enroll its newly eligible employees in a self-managed program of retirement benefits instead of the program of retirement benefits currently offered and allows currently eligible employees to elect to participate in the self-managed program. Provides that a self-managed plan shall authorize a participating employee to accumulate assets for retirement through a combination of employer and employee contributions that may be invested at the employee's direction in mutual funds, collective investment funds, or other investment products and used to purchase annuity contracts. Provides that, to the extent that the changes made by the amendatory Act are determined to be a new benefit increase, the changes are exempt from the 5-year expiration provision. Effective immediately.

House Committee Amendment No. 1
Replaces everything after the enacting clause with the introduced bill with the following changes. Changes the definitions of "currently eligible participant" and "newly eligible participant" to provide that a person who first becomes a participant on the date on which the System first offers the self-managed plan is a newly eligible participant (and therefore automatically enrolled in the plan). Provides that the System may offer its participants an investment fund managed by the Illinois State Board of Investment (was, managed by the System). Requires the System to make the self-managed plan available by January 1, 2010. Makes changes concerning the opening account balance the System shall establish for the participant, the amount of State contributions to be credited to each self-managed plan participant, and the amount of repayment of distributions.

Actions 

Date	Chamber	Action
2/25/2009	House	Filed with the Clerk by Rep. Kevin A. McCarthy
2/25/2009	House	Chief Co-Sponsor Rep. Michael J. Madigan
2/25/2009	House	First Reading
2/25/2009	House	Referred to Rules Committee
3/3/2009	House	Assigned to Personnel and Pensions Committee
3/10/2009	House	Added Chief Co-Sponsor Rep. Karen May
3/11/2009	House	Added Chief Co-Sponsor Rep. Jack D. Franks
3/11/2009	House	Added Chief Co-Sponsor Rep. Linda Chapa LaVia
3/11/2009	House	Added Co-Sponsor Rep. Keith Farnham
3/12/2009	House	House Committee Amendment No. 1 Filed with Clerk by Personnel and Pensions Committee
3/12/2009	House	House Committee Amendment No. 1 Adopted in Personnel and Pensions Committee; by Voice Vote
3/12/2009	House	Do Pass as Amended / Short Debate Personnel and Pensions Committee; 008-002-000
3/12/2009	House	Placed on Calendar 2nd Reading - Short Debate
4/1/2009	House	Second Reading - Short Debate
4/1/2009	House	Held on Calendar Order of Second Reading - Short Debate
4/3/2009	House	Committee/3rd Reading Deadline Extended-Rule May 8, 2009
5/22/2009	House	Final Action Deadline Extended-9(b) May 29, 2009
5/29/2009	House	Final Action Deadline Extended-9(b) May 31, 2009
5/31/2009	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2011	House	Session Sine Die

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