Bill Status of SB 1675   102nd General Assembly

Short Description:  PEN CD-DEFERRED COMPENSATION

Senate Sponsors
Sen. Robert F. Martwick-Sara Feigenholtz-John Connor, Karina Villa and Elgie R. Sims, Jr.

House Sponsors
(Rep. Michael Halpin)


Last Action  View All Actions

DateChamber Action
  7/30/2021SenatePublic Act . . . . . . . . . 102-0219

Statutes Amended In Order of Appearance
40 ILCS 5/24-105.2

Synopsis As Introduced
Amends the Deferred Compensation Article of the Illinois Pension Code. In a provision concerning automatic enrollment in the deferred compensation plan for employees under the General Assembly, State Employee, or Judges Article, provides that the Illinois State Board of Investment may increase the default percentage amount of compensation deferred into employee accounts. Provides that any agency with employees subject to automatic enrollment must systematically provide the employee data necessary for enrollment to the Department of Central Management Services or its designee. Includes any applicable earnings, investment fees, and administrative fees in the refund of amounts deferred for an employee who elects to withdraw from the plan within 90 days of enrollment. Provides that the Board shall establish annual, automatic increases to employee contribution rates for employees who are automatically enrolled in the deferred compensation plan. Provides that the amount of automatic annual increases to employee contribution rates in any 12-month period shall not exceed 1% of compensation. Provides that employees may elect to not receive automatic annual increases in a manner described by the Board. Makes other changes. Effective July 1, 2021.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Robert F. Martwick
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/9/2021SenateAssigned to Pensions
  3/17/2021SenateDo Pass Pensions; 009-000-000
  3/17/2021SenatePlaced on Calendar Order of 2nd Reading March 23, 2021
  3/17/2021SenateAdded as Chief Co-Sponsor Sen. Sara Feigenholtz
  3/17/2021SenateAdded as Chief Co-Sponsor Sen. John Connor
  3/19/2021SenateAdded as Co-Sponsor Sen. Karina Villa
  3/24/2021SenateSecond Reading
  3/24/2021SenatePlaced on Calendar Order of 3rd Reading ** March 25, 2021
  4/20/2021SenateAdded as Co-Sponsor Sen. Elgie R. Sims, Jr.
  4/21/2021SenateThird Reading - Passed; 054-002-000
  4/22/2021HouseArrived in House
  4/22/2021HouseChief House Sponsor Rep. Michael Halpin
  4/23/2021HouseFirst Reading
  4/23/2021HouseReferred to Rules Committee
  4/28/2021HouseAssigned to Personnel & Pensions Committee
  5/6/2021HouseDo Pass / Consent Calendar Personnel & Pensions Committee; 008-000-000
  5/6/2021HousePlaced on Calendar 2nd Reading - Consent Calendar
  5/12/2021HouseSecond Reading - Consent Calendar
  5/12/2021HouseHeld on Calendar Order of Second Reading - Consent Calendar
  5/13/2021HousePlaced on Calendar Order of 3rd Reading - Consent Calendar
  5/14/2021HouseThird Reading - Consent Calendar - First Day
  5/21/2021HouseThird Reading - Consent Calendar - Passed 108-003-000
  5/21/2021SenatePassed Both Houses
  6/17/2021SenateSent to the Governor
  7/30/2021SenateGovernor Approved
  7/30/2021SenateEffective Date July 30, 2021
  7/30/2021SenatePublic Act . . . . . . . . . 102-0219

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