Illinois General Assembly - Full Text of SB2758
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Full Text of SB2758  98th General Assembly


Sen. Daniel Biss

Filed: 3/14/2014





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2    AMENDMENT NO. ______. Amend Senate Bill 2758 as follows:
3on page 14, by replacing line 5 with the following:
4"on the Program, appropriate disclosures for employees, and
5information regarding the vendor Internet website described in
6subsection (i) of Section 60 of this Act."; and
7on page 18, immediately below line 2, by inserting the
9    "(i) The Board shall establish and maintain an Internet
10website designed to assist employers in identifying private
11sector providers of retirement arrangements that can be set up
12by the employer rather than allowing employee participation in
13the Program under this Act; however, the Board shall only
14establish and maintain an Internet website under this
15subsection if there is sufficient interest in such an Internet
16website by private sector providers and if the private sector



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1providers furnish the funding necessary to establish and
2maintain the Internet website. The Board must provide public
3notice of the availability of and the process for inclusion on
4the Internet website before it becomes publicly available. This
5Internet website must be available to the public before the
6Board opens the Program for enrollment, and the Internet
7website address must be included on any Internet website
8posting or other materials regarding the Program offered to the
9public by the Board."; and
10on page 27, line 7, after the period, by inserting "This notice
11shall include a statement that rather than enrolling employees
12in the Program under this Act, employers may sponsor an
13alternative arrangement, including, but not limited to, a
14defined benefit plan, 401(k) plan, a Simplified Employee
15Pension (SEP) plan, a Savings Incentive Match Plan for
16Employees (SIMPLE) plan, or an automatic payroll deduction IRA
17offered through a private provider. The Board shall provide a
18link to the vendor Internet website described in subsection (i)
19of Section 60 of this Act.".