Illinois General Assembly - Bill Status for SB2607

Synopsis As Introduced
Amends the Deferred Compensation Article of the Illinois Pension Code. Provides that, after January 1, 2024, the deferred compensation plan shall provide for the recovery of the expenses of its administration by charging fees equitably prorated among the participating employers (instead of by charging administrative expenses against the earnings from investments or by charging fees equitably prorated among the participating State employees or by such other appropriate and equitable method as the Illinois State Board of Investment shall determine). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions

Date	Chamber	Action
10/18/2023	Senate	Filed with Secretary by Sen. Robert F. Martwick
10/18/2023	Senate	First Reading
10/18/2023	Senate	Referred to Assignments
1/24/2024	Senate	Assigned to Appropriations
3/15/2024	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
4/4/2024	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
4/4/2024	Senate	Senate Committee Amendment No. 1 Referred to Assignments
4/5/2024	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024
4/9/2024	Senate	Senate Committee Amendment No. 1 Assignments Refers to Appropriations

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