Bill Status of SB 734   103rd General Assembly

Short Description:  PUBLIC EMPLOYEE BENEFITS-TECH

Senate Sponsors
Sen. Michael W. Halpin

House Sponsors
(Rep. Stephanie A. Kifowit)


Last Action  View All Actions

DateChamber Action
  8/4/2023SenatePublic Act . . . . . . . . . 103-0481

Statutes Amended In Order of Appearance
40 ILCS 5/1-101.1from Ch. 108 1/2, par. 1-101.1

Synopsis As Introduced
Amends the Illinois Pension Code. Makes a technical change in a Section concerning definitions.

Senate Floor Amendment No. 1
Deletes reference to:
40 ILCS 5/1-101.1
Adds reference to:
40 ILCS 5/8-230.1from Ch. 108 1/2, par. 8-230.1
30 ILCS 805/8.47 new

Replaces everything after the enacting clause. Amends the Chicago Municipal Article of the Illinois Pension Code. In a provision authorizing certain employees to make a contribution and receive service credit for service with the Chicago Transit Authority or its predecessor, provides that the contribution shall be based on the assumption that the employee's salary throughout all of his or her service with the Chicago Transit Authority or its predecessor was at the rate of the employee's salary at the later of the date of his or her entrance or reentrance into the service as a municipal employee, as applicable (instead of at the date of his or her entrance into the service as a municipal employee). Amends the State Mandates Act to require implementation without reimbursement.

House Floor Amendment No. 1
Deletes reference to:
40 ILCS 5/8-230.1
30 ILCS 805/8.47 new
Adds reference to:
105 ILCS 5/22-95 new

Replaces everything after the enacting clause. Amends the School Code. Specifies that the provisions apply to a school district with a full-time licensed teacher population of 575 or more teachers that maintain a 457 plan, except for the Chicago school district. Provides that every applicable school district shall make available to participants more than one financial institution or investment provider to provide services to the school district's 457 plan. Provides that a financial institution or investment provider, by entering into a written agreement, may offer or provide services to a plan offered, established, or maintained by a school district. Provides that each school district that offers a 457 plan shall make available to participants more than one financial institution or investment provider that has not entered into a written agreement to provide administration services and that provides services to a 457 plan offered to school districts. Provides that a financial institution or investment provider shall cover all plan administration costs agreed to by the school district relating to the administration of the 457 plan. Provides that nothing in the amendatory provisions shall apply to or impact the optional defined contribution benefit established by the Teachers' Retirement System of the State of Illinois under the Illinois Pension Code. Sets forth provisions regarding sharing plan data.

House Floor Amendment No. 2
Provides that the requirement to select more than one financial institution or investment provider to provide services to the 457 plan does not apply to a plan established under Section 16-204 of the Illinois Pension Code.

Actions 
DateChamber Action
  2/2/2023SenateFiled with Secretary by Sen. Don Harmon
  2/2/2023SenateFirst Reading
  2/2/2023SenateReferred to Assignments
  3/2/2023SenateAssigned to Executive
  3/9/2023SenateDo Pass Executive; 011-000-000
  3/9/2023SenatePlaced on Calendar Order of 2nd Reading March 10, 2023
  3/10/2023SenateSecond Reading
  3/10/2023SenatePlaced on Calendar Order of 3rd Reading March 21, 2023
  3/22/2023SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
  3/22/2023SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/28/2023SenateSenate Floor Amendment No. 1 Assignments Refers to Senate Special Committee on Pensions
  3/28/2023SenateChief Sponsor Changed to Sen. Napoleon Harris, III
  3/30/2023SenateSenate Floor Amendment No. 1 Recommend Do Adopt Senate Special Committee on Pensions; 011-000-000
  3/31/2023SenateRecalled to Second Reading
  3/31/2023SenateSenate Floor Amendment No. 1 Adopted; Harris
  3/31/2023SenatePlaced on Calendar Order of 3rd Reading
  3/31/2023SenateThird Reading - Passed; 055-001-000
  3/31/2023HouseArrived in House
  3/31/2023HouseChief House Sponsor Rep. Emanuel "Chris" Welch
  4/3/2023HouseAlternate Chief Sponsor Changed to Rep. Justin Slaughter
  4/11/2023HouseFirst Reading
  4/11/2023HouseReferred to Rules Committee
  4/18/2023HouseAssigned to Personnel & Pensions Committee
  4/27/2023HouseDo Pass / Short Debate Personnel & Pensions Committee; 006-003-000
  4/27/2023HousePlaced on Calendar 2nd Reading - Short Debate
  5/3/2023HouseSecond Reading - Short Debate
  5/3/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/12/2023HouseThird Reading/Final Action Deadline Extended-9(b) May 19, 2023
  5/18/2023HouseAlternate Chief Sponsor Changed to Rep. Stephanie A. Kifowit
  5/19/2023HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Stephanie A. Kifowit
  5/19/2023HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  5/19/2023HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2023
  5/24/2023HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Stephanie A. Kifowit
  5/24/2023HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  5/24/2023HouseHouse Floor Amendment No. 1 Rules Refers to Personnel & Pensions Committee
  5/24/2023HouseHouse Floor Amendment No. 2 Rules Refers to Personnel & Pensions Committee
  5/25/2023HouseHouse Floor Amendment No. 1 Recommends Be Adopted Personnel & Pensions Committee; 009-000-000
  5/25/2023HouseHouse Floor Amendment No. 2 Recommends Be Adopted Personnel & Pensions Committee; 009-000-000
  5/25/2023HouseRecalled to Second Reading - Short Debate
  5/25/2023HouseHouse Floor Amendment No. 1 Adopted
  5/25/2023HouseHouse Floor Amendment No. 2 Adopted
  5/25/2023HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/25/2023HouseThird Reading - Short Debate - Passed 105-000-000
  5/25/2023SenateSecretary's Desk - Concurrence House Amendment(s) 1, 2
  5/25/2023SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 25, 2023
  5/25/2023SenateChief Sponsor Changed to Sen. Michael W. Halpin
  5/25/2023SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Michael W. Halpin
  5/25/2023SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
  5/25/2023SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Michael W. Halpin
  5/25/2023SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
  5/25/2023SenateHouse Floor Amendment No. 1 Motion to Concur Be Approved for Consideration Assignments
  5/25/2023SenateHouse Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Assignments
  5/25/2023SenateHouse Floor Amendment No. 1 Senate Concurs 055-000-000
  5/25/2023SenateHouse Floor Amendment No. 2 Senate Concurs 055-000-000
  5/25/2023SenateSenate Concurs
  5/25/2023SenatePassed Both Houses
  6/23/2023SenateSent to the Governor
  8/4/2023SenateGovernor Approved
  8/4/2023SenateEffective Date January 1, 2024
  8/4/2023SenatePublic Act . . . . . . . . . 103-0481

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