Illinois House Bill 4497 (Prior Session Legislation)

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Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 2)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

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.

ILLINOIS AUTOMATIC IRA ACT

Rep. Deborah Mell [D]

Rep. Kimberly Du Buclet [D]

Date	Chamber	Action
2013-01-08	House	Session Sine Die
2012-03-09	House	Rule 19(a) / Re-referred to Rules Committee
2012-02-27	House	Assigned to State Government Administration Committee
2012-02-08	House	Remove Chief Co-Sponsor Rep. Carol A. Sente
2012-02-08	House	Added Chief Co-Sponsor Rep. Kimberly du Buclet
2012-02-08	House	Added Chief Co-Sponsor Rep. Carol A. Sente
2012-02-08	House	Chief Sponsor Changed to Rep. Deborah Mell
2012-01-31	House	Referred to Rules Committee
2012-01-31	House	First Reading
2012-01-31	House	Filed with the Clerk by Rep. Carol A. Sente

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4497&GAID=11&DocTypeID=HB&SessionID=84&GA=97
Text	https://www.ilga.gov/legislation/97/HB/09700HB4497.htm