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Sen. Karina Villa
Filed: 2/20/2024
| | 10300SB2568sam002 | | LRB103 31865 RPS 70004 a |
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| 1 | | AMENDMENT TO SENATE BILL 2568
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2568, AS AMENDED, |
| 3 | | with reference to page and line numbers of Senate Amendment |
| 4 | | No. 1, on page 2, line 5, after "process." by inserting "The |
| 5 | | vendor selected by the employees' exclusive bargaining |
| 6 | | representative, if any, or the committee of the exclusive |
| 7 | | bargaining representatives, if applicable, must meet the |
| 8 | | following requirements: the vendor does not charge a front-end |
| 9 | | sales charge, the vendor does not have any surrender charges, |
| 10 | | and the vendor provides access to index fund-based target date |
| 11 | | funds. |
| 12 | | If a new vendor is chosen to administer the retirement |
| 13 | | savings plan, an employee may opt out of having the employee's |
| 14 | | assets transferred to that new vendor.". |