Bill Status of HB 5137   100th General Assembly

Short Description:  PENCD-TRS-DEFINED CONTRIBUTION

House Sponsors
Rep. Robert Martwick-David Harris-Mark Batinick-Jaime M. Andrade, Jr.

Senate Sponsors
(Sen. Dan McConchie-Pamela J. Althoff-Michael Connelly)


Last Action  View All Actions

DateChamber Action
  8/10/2018HousePublic Act . . . . . . . . . 100-0769

Statutes Amended In Order of Appearance
40 ILCS 5/16-203
40 ILCS 5/16-204 new

Synopsis As Introduced
Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that the System shall offer a defined contribution benefit to active members of the System. Provides that the defined contribution benefit shall collect optional employee and optional employer contributions into an account and shall offer investment options to the participant. Provides that the defined contribution benefit shall be operated in full compliance with any applicable State and federal laws, and the System shall utilize generally accepted practices in creating and maintaining the benefit for the best interest of the participants. Authorizes the System to use funds from the employee and employer contributions to defray any and all costs of creating and maintaining the benefit. Requires the System to produce an annual report on the participation in the benefit and to make that report public. Excludes any benefit increase resulting from the change made by the amendatory Act from the definition of "new benefit increase". Effective immediately.

House Committee Amendment No. 1
Adds reference to:
40 ILCS 5/15-198
40 ILCS 5/15-202 new

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: Further amends the Illinois Pension Code. In the State Universities Article, provides that the System shall offer a defined contribution benefit to active members of the System. Provides that the defined contribution benefit shall collect optional employee and optional employer contributions into an account and shall offer investment options to the participant. Provides that the defined contribution benefit shall be operated in full compliance with any applicable State and federal laws, and the System shall utilize generally accepted practices in creating and maintaining the benefit for the best interest of the participants. Authorizes the System to use funds from the employee and employer contributions to defray any and all costs of creating and maintaining the benefit. Requires the System to produce an annual report on the participation in the benefit and to make that report public. Excludes any benefit increase resulting from the change made by the amendatory Act from the definition of "new benefit increase". Effective immediately.

Actions 
DateChamber Action
  2/15/2018HouseFiled with the Clerk by Rep. Robert Martwick
  2/16/2018HouseFirst Reading
  2/16/2018HouseReferred to Rules Committee
  4/16/2018HouseAssigned to Personnel & Pensions Committee
  4/16/2018HouseFinal Action Deadline Extended-9(b) May 31, 2018
  4/18/2018HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Robert Martwick
  4/18/2018HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  4/19/2018HouseHouse Committee Amendment No. 1 Rules Refers to Personnel & Pensions Committee
  4/25/2018HouseHouse Committee Amendment No. 1 Adopted in Personnel & Pensions Committee; by Voice Vote
  4/25/2018HouseDo Pass as Amended / Short Debate Personnel & Pensions Committee; 014-000-000
  4/25/2018HousePlaced on Calendar 2nd Reading - Short Debate
  4/25/2018HouseSecond Reading - Short Debate
  4/25/2018HouseHeld on Calendar Order of Second Reading - Short Debate
  4/27/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/27/2018HouseThird Reading - Short Debate - Passed 094-000-000
  4/27/2018HouseAdded Chief Co-Sponsor Rep. David Harris
  4/27/2018HouseAdded Chief Co-Sponsor Rep. Mark Batinick
  4/27/2018HouseAdded Chief Co-Sponsor Rep. Jaime M. Andrade, Jr.
  5/1/2018SenateArrive in Senate
  5/1/2018SenatePlaced on Calendar Order of First Reading May 2, 2018
  5/8/2018SenateChief Senate Sponsor Sen. Dan McConchie
  5/8/2018SenateFirst Reading
  5/8/2018SenateReferred to Assignments
  5/9/2018SenateAssigned to Licensed Activities and Pensions
  5/11/2018SenateRule 2-10 Committee Deadline Established As May 31, 2018
  5/16/2018SenateAdded as Alternate Chief Co-Sponsor Sen. Pamela J. Althoff
  5/17/2018SenateDo Pass Licensed Activities and Pensions; 010-000-000
  5/17/2018SenatePlaced on Calendar Order of 2nd Reading May 18, 2018
  5/21/2018SenateSecond Reading
  5/21/2018SenatePlaced on Calendar Order of 3rd Reading May 22, 2018
  5/24/2018SenateAdded as Alternate Chief Co-Sponsor Sen. Michael Connelly
  5/24/2018SenateThird Reading - Passed; 055-000-000
  5/24/2018HousePassed Both Houses
  6/22/2018HouseSent to the Governor
  8/10/2018HouseGovernor Approved
  8/10/2018HouseEffective Date August 10, 2018
  8/10/2018HousePublic Act . . . . . . . . . 100-0769

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