SB2568sam002 103RD GENERAL ASSEMBLY

Sen. Karina Villa

Filed: 2/20/2024

10300SB2568sam002 LRB103 31865 RPS 70004 a

AMENDMENT TO SENATE BILL 2568

AMENDMENT NO. ______. Amend Senate Bill 2568, AS AMENDED, with reference to page and line numbers of Senate Amendment No. 1, on page 2, line 5, after "process." by inserting "The vendor selected by the employees' exclusive bargaining representative, if any, or the committee of the exclusive bargaining representatives, if applicable, must meet the following requirements: the vendor does not charge a front-end sales charge, the vendor does not have any surrender charges, and the vendor provides access to index fund-based target date funds.

If a new vendor is chosen to administer the retirement savings plan, an employee may opt out of having the employee's assets transferred to that new vendor.".