Bill Status of HB 4497   97th General Assembly

Short Description:  ILLINOIS AUTOMATIC IRA ACT

House Sponsors
Rep. Deborah Mell-Kimberly du Buclet

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act

Synopsis As Introduced
Creates the Illinois Automatic IRA Program Act. Provides that the Illinois Automatic IRA Program shall be administered by the State Treasurer and that the Treasurer shall adopt regulations to implement the Program. Allows employees of certain employers that have not offered a qualified retirement plan for 2 years to set aside a percentage of their wages to be deposited into an IRA trust fund administered by the State Treasurer's office. Sets minimum requirements for the operation of the Program. Sets forth duties and authority of the State Treasurer in relation to the Program. Limits State and employer liability. Contains provisions regarding audits and reports. Effective immediately.

Actions 
DateChamber Action
  1/31/2012HouseFiled with the Clerk by Rep. Carol A. Sente
  1/31/2012HouseFirst Reading
  1/31/2012HouseReferred to Rules Committee
  2/8/2012HouseChief Sponsor Changed to Rep. Deborah Mell
  2/8/2012HouseAdded Chief Co-Sponsor Rep. Carol A. Sente
  2/8/2012HouseAdded Chief Co-Sponsor Rep. Kimberly du Buclet
  2/8/2012HouseRemove Chief Co-Sponsor Rep. Carol A. Sente
  2/27/2012HouseAssigned to State Government Administration Committee
  3/9/2012HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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