Bill Status of SB 779   100th General Assembly

Short Description:  PEN CD-INVESTMENT DISCLOSURE

Senate Sponsors
Sen. John J. Cullerton-Iris Y. Martinez and Laura M. Murphy

House Sponsors
(Rep. Robert Martwick)


Last Action  View All Actions

DateChamber Action
  1/9/2019SenateSession Sine Die

Statutes Amended In Order of Appearance
5 ILCS 140/7from Ch. 116, par. 207
40 ILCS 5/1-113.17 new
40 ILCS 5/1-113.17a new
40 ILCS 5/1-113.17b new

Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code in relation to investment transparency. Defines terms. Provides that within 90 days after entering into a new agreement to invest in an alternative investment fund, a public retirement system must disclose certain specified provisions of the agreement. Provides that a public retirement system shall require its alternative investment fund external managers and general partners to make certain annual disclosures concerning certain fees and expenses, in regard to each alternative investment fund. Provides that supplying a public retirement system with a completed reporting template developed by the Institutional Limited Partners Association constitutes compliance with certain reporting requirements. Declares the disclosures to be public records and requires their publication on the public retirement system's website. Amends the Freedom of Information Act to make a conforming change. Effective immediately.

House Committee Amendment No. 2
Deletes reference to:
40 ILCS 5/1-101.1 new
Adds reference to:
40 ILCS 5/1-160
40 ILCS 5/14-103.10from Ch. 108 1/2, par. 14-103.10
40 ILCS 5/14-103.12from Ch. 108 1/2, par. 14-103.12
40 ILCS 5/14-103.40a new
40 ILCS 5/14-103.41 new
40 ILCS 5/14-103.42 new
40 ILCS 5/14-103.43 new
40 ILCS 5/14-103.44 new
40 ILCS 5/14-104from Ch. 108 1/2, par. 14-104
40 ILCS 5/14-104.3from Ch. 108 1/2, par. 14-104.3
40 ILCS 5/14-107from Ch. 108 1/2, par. 14-107
40 ILCS 5/14-108from Ch. 108 1/2, par. 14-108
40 ILCS 5/14-114from Ch. 108 1/2, par. 14-114
40 ILCS 5/14-121from Ch. 108 1/2, par. 14-121
40 ILCS 5/14-130from Ch. 108 1/2, par. 14-130
40 ILCS 5/14-133from Ch. 108 1/2, par. 14-133
40 ILCS 5/14-133.1from Ch. 108 1/2, par. 14-133.1
40 ILCS 5/14-135.08from Ch. 108 1/2, par. 14-135.08
40 ILCS 5/14-155.1 new
40 ILCS 5/14-155.2 new
40 ILCS 5/15-103.4 new
40 ILCS 5/15-108.2
40 ILCS 5/15-108.3 new
40 ILCS 5/15-111from Ch. 108 1/2, par. 15-111
40 ILCS 5/15-112from Ch. 108 1/2, par. 15-112
40 ILCS 5/15-113from Ch. 108 1/2, par. 15-113
40 ILCS 5/15-118from Ch. 108 1/2, par. 15-118
40 ILCS 5/15-134.5
40 ILCS 5/15-134.6 new
40 ILCS 5/15-135from Ch. 108 1/2, par. 15-135
40 ILCS 5/15-136from Ch. 108 1/2, par. 15-136
40 ILCS 5/15-136.3
40 ILCS 5/15-139from Ch. 108 1/2, par. 15-139
40 ILCS 5/15-139.1
40 ILCS 5/15-145.1
40 ILCS 5/15-146from Ch. 108 1/2, par. 15-146
40 ILCS 5/15-154from Ch. 108 1/2, par. 15-154
40 ILCS 5/15-154.3 new
40 ILCS 5/15-155from Ch. 108 1/2, par. 15-155
40 ILCS 5/15-155.1 new
40 ILCS 5/15-157from Ch. 108 1/2, par. 15-157
40 ILCS 5/15-157.1from Ch. 108 1/2, par. 15-157.1
40 ILCS 5/15-158.2
40 ILCS 5/15-158.24 new
40 ILCS 5/15-158.25 new
40 ILCS 5/15-165from Ch. 108 1/2, par. 15-165
40 ILCS 5/16-106.4a new
40 ILCS 5/16-106.7 new
40 ILCS 5/16-111from Ch. 108 1/2, par. 16-111
40 ILCS 5/16-111.1from Ch. 108 1/2, par. 16-111.1
40 ILCS 5/16-127from Ch. 108 1/2, par. 16-127
40 ILCS 5/16-136from Ch. 108 1/2, par. 16-136
40 ILCS 5/16-136.2from Ch. 108 1/2, par. 16-136.2
40 ILCS 5/16-136.4from Ch. 108 1/2, par. 16-136.4
40 ILCS 5/16-139 new
40 ILCS 5/16-143.2from Ch. 108 1/2, par. 16-143.2
40 ILCS 5/16-152from Ch. 108 1/2, par. 16-152
40 ILCS 5/16-152.1from Ch. 108 1/2, par. 16-152.1
40 ILCS 5/16-154from Ch. 108 1/2, par. 16-154
40 ILCS 5/16-155from Ch. 108 1/2, par. 16-155
40 ILCS 5/16-158from Ch. 108 1/2, par. 16-158
40 ILCS 5/16-189.1from Ch. 108 1/2, par. 16-189.1
40 ILCS 5/16-191from Ch. 108 1/2, par. 16-191
40 ILCS 5/16-197from Ch. 108 1/2, par. 16-197
40 ILCS 5/1-161 rep.
40 ILCS 5/14-103.40 rep.
40 ILCS 5/15-155.2 rep.
40 ILCS 5/16-106.4 rep.
40 ILCS 5/16-158.3 rep.
30 ILCS 805/8.41 new

Replaces everything after the enacting clause. Amends the General Provisions, State Employee, State Universities, and Downstate Teachers Articles of the Illinois Pension Code. In the General Provisions Article, repeals a provision added by Public Act 100-23 that establishes a hybrid benefit plan for persons who first become members under the State Universities or Downstate Articles and noncovered employees under the State Employee Article after the implementation date of those benefits and makes related changes. In the State Employee, State Universities, and Downstate Teachers Article, incorporates the hybrid benefit plan added by Public Act 100-23 into each Article and makes conforming and related changes. Adds provisions specifying the method of calculating annuities and other defined benefits under the hybrid benefit plan. Adds provisions concerning the defined contribution component of the hybrid benefit plan. Makes changes to employee and employer contribution rates. In the State Universities and Downstate Teacher Articles, repeals a provision establishing individual employer accounts for the purposes of paying certain pension costs. Makes changes to provisions requiring the actual employer to pay specified pension costs. In the State Universities Article, provides that if an employer fails to transmit required contributions to the System, the Board may certify to the State Comptroller or the county treasurer the amount of those delinquent employer contributions and the State Comptroller shall deduct the certified amount from State funds to the employer; adds similar provisions if the employer is a community college district. Repeals certain provisions added by Public Act 98-599, which has been held unconstitutional. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  2/1/2017SenateFiled with Secretary by Sen. Daniel Biss
  2/1/2017SenateFirst Reading
  2/1/2017SenateReferred to Assignments
  2/8/2017SenateAssigned to Licensed Activities and Pensions
  3/16/2017SenatePostponed - Licensed Activities and Pensions
  3/17/2017SenateRule 2-10 Committee Deadline Established As April 7, 2017
  3/29/2017SenateDo Pass Licensed Activities and Pensions; 007-005-000
  3/29/2017SenatePlaced on Calendar Order of 2nd Reading March 30, 2017
  3/29/2017SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
  4/26/2017SenateSecond Reading
  4/26/2017SenatePlaced on Calendar Order of 3rd Reading April 27, 2017
  4/28/2017SenateRule 2-10 Third Reading Deadline Established As May 31, 2017
  5/29/2017SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  5/29/2017SenateThird Reading - Passed; 034-019-000
  5/29/2017HouseArrived in House
  5/29/2017HouseChief House Sponsor Rep. Elaine Nekritz
  5/29/2017HouseFirst Reading
  5/29/2017HouseReferred to Rules Committee
  5/30/2017HouseAssigned to Personnel & Pensions Committee
  5/30/2017HouseFinal Action Deadline Extended-9(b) May 31, 2017
  5/30/2017HouseMotion Filed to Suspend Rule 21 Personnel & Pensions Committee; Rep. Barbara Flynn Currie
  5/30/2017HouseMotion to Suspend Rule 21 - Prevailed 065-051-000
  5/31/2017HouseRule 19(a) / Re-referred to Rules Committee
  10/26/2017HouseAlternate Chief Sponsor Changed to Rep. Barbara Flynn Currie
  10/26/2017HouseAssigned to Personnel & Pensions Committee
  10/26/2017HouseFinal Action Deadline Extended-9(b) November 10, 2017
  10/26/2017HouseAlternate Chief Sponsor Changed to Rep. Robert Martwick
  10/26/2017HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Barbara Flynn Currie
  10/26/2017HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  11/2/2017HouseHouse Committee Amendment No. 1 Rules Refers to Personnel & Pensions Committee
  11/6/2017HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Robert Martwick
  11/6/2017HouseHouse Committee Amendment No. 2 Referred to Rules Committee
  11/6/2017HouseHouse Committee Amendment No. 2 Rules Refers to Personnel & Pensions Committee
  11/7/2017HouseHouse Committee Amendment No. 2 Adopted in Personnel & Pensions Committee; by Voice Vote
  11/7/2017HouseDo Pass as Amended / Short Debate Personnel & Pensions Committee; 008-004-000
  11/7/2017HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
  11/7/2017HousePlaced on Calendar 2nd Reading - Short Debate
  11/7/2017HouseSecond Reading - Short Debate
  11/7/2017HouseHeld on Calendar Order of Second Reading - Short Debate
  11/10/2017HouseRule 19(a) / Re-referred to Rules Committee
  4/3/2018HouseApproved for Consideration Rules Committee; 004-000-000
  4/3/2018HousePlaced on Calendar 2nd Reading - Short Debate
  5/16/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/25/2018HouseFinal Action Deadline Extended-9(b) May 31, 2018
  5/31/2018HouseRule 19(a) / Re-referred to Rules Committee
  1/6/2019SenateChief Sponsor Changed to Sen. John J. Cullerton
  1/9/2019SenateSession Sine Die

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