Bill Status of SB 2212   96th General Assembly

Short Description:  PEN CD-PENSION DIVISION EXAM

Senate Sponsors
Sen. Susan Garrett

House Sponsors
(Rep. Mark H. Beaubien, Jr.)


Last Action  View All Actions

DateChamber Action
  1/12/2011SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/1A-104
40 ILCS 5/1A-112

Synopsis As Introduced
Amends the Illinois Pension Code. In provisions concerning Public Pension Division examinations or investigations of pension funds (i) provides that the Division of Insurance may retain attorneys, independent actuaries, independent certified public accountants, and specialists as examiners as deemed necessary by the Director of Insurance and removes language providing that the costs of these professionals shall be borne by the pension fund that is the subject of the examination and (ii) in provisions concerning the examination of downstate police and fire pension funds, provides that, beginning on December 31, 2016, the schedule of each examination shall be such that each fund shall be examined once every 5 years (was, once every 3 years). Increases the annual compliance fees with respect to a downstate police or fire pension fund from 0.02% (2 basis points) of the total assets of the pension fund, but not more than $8,000 to 0.03% (3 basis points) of the total assets of the pension fund, but not more than $12,000. Effective immediately.

Senate Floor Amendment No. 2
Deletes reference to:
40 ILCS 5/1A-112

Replaces everything after the enacting clause. Amends the Illinois Pension Code. In provisions concerning the examination of downstate police and fire pension funds, provides that, beginning on December 31, 2010, the schedule of each examination shall be such that each fund shall be examined once every 5 years (was, once every 3 years). Provides that the Public Pension Division shall comply with the changes made by the amendatory Act, and any costs associated with the changes shall be paid for using the pension fund fee structure as it exists on the effective date of the amendatory Act. Effective immediately.

Actions 
DateChamber Action
  2/20/2009SenateFiled with Secretary by Sen. Susan Garrett
  2/20/2009SenateFirst Reading
  2/20/2009SenateReferred to Assignments
  3/4/2009SenateAssigned to Pensions and Investments
  3/12/2009SenateDo Pass Pensions and Investments; 007-002-000
  3/12/2009SenatePlaced on Calendar Order of 2nd Reading March 17, 2009
  3/17/2009SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Susan Garrett
  3/17/2009SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/18/2009SenateSenate Floor Amendment No. 1 Assignments Refers to Pensions and Investments
  3/25/2009SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Susan Garrett
  3/25/2009SenateSenate Floor Amendment No. 2 Referred to Assignments
  3/30/2009SenateSenate Floor Amendment No. 2 Assignments Refers to Pensions and Investments
  3/31/2009SenateSenate Floor Amendment No. 1 Recommend Do Adopt Pensions and Investments; 008-000-000
  3/31/2009SenateSenate Floor Amendment No. 2 Recommend Do Adopt Pensions and Investments; 008-000-000
  3/31/2009SenateSecond Reading
  3/31/2009SenateSenate Floor Amendment No. 1 Motion to Table Amendment - Prevailed Garrett
  3/31/2009SenateSenate Floor Amendment No. 1 Tabled
  3/31/2009SenateSenate Floor Amendment No. 2 Adopted; Garrett
  3/31/2009SenatePlaced on Calendar Order of 3rd Reading April 1, 2009
  4/1/2009SenateThird Reading - Passed; 057-000-000
  4/2/2009HouseArrived in House
  4/2/2009HousePlaced on Calendar Order of First Reading
  4/2/2009HouseChief House Sponsor Rep. Mark H. Beaubien, Jr.
  4/2/2009HouseFirst Reading
  4/2/2009HouseReferred to Rules Committee
  4/20/2009HouseAssigned to Executive Committee
  5/8/2009HouseRule 19(a) / Re-referred to Rules Committee
  1/12/2011SenateSession Sine Die

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