Bill Status of SB 2362   99th General Assembly

Short Description:  PEN CD-SURS-SELF MANAGED PLAN

Senate Sponsors
Sen. Daniel Biss

House Sponsors
(Rep. Elaine Nekritz)


Last Action  View All Actions

DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
40 ILCS 5/15-158.2

Synopsis As Introduced
Amends the State Universities Article of the Illinois Pension Code. Requires the System to provide advance notice to a participant in the self-managed plan of the participant's obligation to direct the investment of employee and employer contributions into one or more investment funds selected by the System at the time he or she makes his or her initial retirement plan selection. Provides that if a participant in the self-managed plan fails to direct the investment of employee and employer contributions into the various investment options offered to the participant when making his or her initial retirement election choice, the System shall invest the employee and employer contributions in a default investment fund on behalf of the participant, and the investment shall be deemed to have been made at the participant's investment direction. Provides that the participant has the right to transfer account balances out of the default investment fund during time periods designated by the System. Effective immediately.

Senate Committee Amendment No. 2
Adds reference to:
40 ILCS 5/7-139from Ch. 108 1/2, par. 7-139
40 ILCS 5/7-139.2from Ch. 108 1/2, par. 7-139.2
40 ILCS 5/7-142.1from Ch. 108 1/2, par. 7-142.1
40 ILCS 5/7-145.1
40 ILCS 5/7-169from Ch. 108 1/2, par. 7-169
40 ILCS 5/14-123from Ch. 108 1/2, par. 14-123
40 ILCS 5/14-123.1from Ch. 108 1/2, par. 14-123.1
40 ILCS 5/14-124from Ch. 108 1/2, par. 14-124
40 ILCS 5/14-125from Ch. 108 1/2, par. 14-125
40 ILCS 5/14-127from Ch. 108 1/2, par. 14-127
40 ILCS 5/18-125from Ch. 108 1/2, par. 18-125
40 ILCS 5/18-126.1from Ch. 108 1/2, par. 18-126.1
40 ILCS 5/18-128.01from Ch. 108 1/2, par. 18-128.01
40 ILCS 5/18-133from Ch. 108 1/2, par. 18-133

Replaces everything after the enacting clause with the bill as introduced, plus the following additional provisions: Further amends the Illinois Pension Code. In the Illinois Municipal Retirement Fund (IMRF) Article, with respect to establishing certain types of service credit in the Fund, provides that application and payment must be received by the Board while the applicant is an active participant, except that one payment will be permitted after termination of participation. In the State Employees Article: (1) allows licensed healthcare practitioners (rather than just physicians) to make certain disability determinations; (2) authorizes the Board to waive certain disability application deadline requirements; (3) provides that certain disability benefits shall be payable retroactive to the date of eligibility; and (4) also makes changes relating to Social Security full retirement age and to hearings under certain provisions of the Workers' Compensation Act and the Workers' Occupational Diseases Act. In the Judges Article, makes changes concerning the application of certain provisions to Tier 2 judges. Effective immediately.

Actions 
DateChamber Action
  1/28/2016SenateFiled with Secretary by Sen. Daniel Biss
  1/28/2016SenateFirst Reading
  1/28/2016SenateReferred to Assignments
  2/3/2016SenateAssigned to Licensed Activities and Pensions
  2/18/2016SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Daniel Biss
  2/18/2016SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/2/2016SenateSenate Committee Amendment No. 1 Assignments Refers to Licensed Activities and Pensions
  3/9/2016SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Daniel Biss
  3/9/2016SenateSenate Committee Amendment No. 2 Referred to Assignments
  3/16/2016SenateSenate Committee Amendment No. 2 Assignments Refers to Licensed Activities and Pensions
  3/17/2016SenateSenate Committee Amendment No. 2 Adopted
  3/17/2016SenateDo Pass as Amended Licensed Activities and Pensions; 010-000-000
  3/17/2016SenatePlaced on Calendar Order of 2nd Reading April 5, 2016
  4/8/2016SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  4/12/2016SenateSecond Reading
  4/12/2016SenatePlaced on Calendar Order of 3rd Reading April 13, 2016
  4/19/2016SenateThird Reading - Passed; 057-000-000
  4/19/2016SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  4/20/2016HouseArrived in House
  4/20/2016HouseChief House Sponsor Rep. Elaine Nekritz
  4/20/2016HouseFirst Reading
  4/20/2016HouseReferred to Rules Committee
  1/10/2017SenateSession Sine Die

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