IL HB3707 | 2017-2018 | 100th General Assembly

Status

Spectrum: Strong Partisan Bill (Republican 15-1)
Status: Introduced on February 10 2017 - 25% progression
Action: 2017-03-31 - House Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the General Assembly Article of the Illinois Pension Code. Requires the General Assembly Retirement System to establish a self-directed retirement plan. Provides that for persons who become a participant on or after the effective date of the amendatory Act, participation in the System shall be limited to participation in the self-directed retirement plan. Allows a Tier 1 or Tier 2 participant to make an irrevocable election to participate in the self-directed retirement plan instead of the defined benefit plan. Makes changes to the pensionable salary for active participants. Provides that upon a participant's first day of participation in the self-directed retirement plan, the participant becomes vested in his or her contributions to the self-directed retirement plan, the employer's contributions to the self-directed retirement plan, and the investment returns attributable to those contributions credited to his or her account.

Tracking Information

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Title

PEN CD-GARS SELF-DIRECTED PLAN

Sponsors


History

DateChamberAction
2017-03-31HouseHouse Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
2017-03-31HouseRule 19(a) / Re-referred to Rules Committee
2017-03-27HouseHouse Committee Amendment No. 1 Rules Refers to Personnel & Pensions Committee
2017-03-24HouseHouse Committee Amendment No. 1 Referred to Rules Committee
2017-03-24HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Sheri Jesiel
2017-03-16HouseRemoved Co-Sponsor Rep. Steven Reick
2017-03-15HouseAdded Co-Sponsor Rep. Grant Wehrli
2017-03-09HouseAdded Co-Sponsor Rep. Nick Sauer
2017-03-09HouseAdded Co-Sponsor Rep. Patricia R. Bellock
2017-03-09HouseAdded Co-Sponsor Rep. Sara Wojcicki Jimenez
2017-03-09HouseAdded Co-Sponsor Rep. Jerry Lee Long
2017-03-09HouseAdded Co-Sponsor Rep. Ryan Spain
2017-03-07HouseAdded Co-Sponsor Rep. Steven Reick
2017-03-07HouseAdded Co-Sponsor Rep. C.D. Davidsmeyer
2017-03-07HouseAdded Co-Sponsor Rep. Thomas Morrison
2017-03-07HouseAdded Co-Sponsor Rep. Brad Halbrook
2017-03-07HouseAdded Co-Sponsor Rep. Barbara Wheeler
2017-03-07HouseAdded Co-Sponsor Rep. Kelly M. Burke
2017-03-07HouseAdded Co-Sponsor Rep. Reginald Phillips
2017-03-07HouseAdded Co-Sponsor Rep. Jeanne M Ives
2017-03-01HouseAssigned to Personnel & Pensions Committee
2017-02-24HouseAdded Co-Sponsor Rep. Margo McDermed
2017-02-17HouseAdded Chief Co-Sponsor Rep. Allen Skillicorn
2017-02-10HouseReferred to Rules Committee
2017-02-10HouseFirst Reading
2017-02-10HouseFiled with the Clerk by Rep. Sheri Jesiel

Code Citations

ChapterArticleSectionCitation TypeStatute Text
4052-105.1Repealed CodeCitation Text
4052-105.3New CodeSee Bill Text
4052-167New CodeSee Bill Text

Illinois State Sources


Bill Comments

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