Illinois House Bill 4532 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 6-2)
Status: Engrossed on April 20 2016 - 50% progression, died in committee
Action: 2016-07-31 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Engrossed) [HTML]

Amends the State Universities Article of the Illinois Pension Code. Requires the System to provide advance notice to a participant in the self-managed plan of the participant's obligation to direct the investment of employee and employer contributions into one or more investment funds selected by the System at the time he or she makes his or her initial retirement plan selection. Provides that if a participant in the self-managed plan fails to direct the investment of employee and employer contributions into the various investment options offered to the participant when making his or her initial retirement election choice, the System shall invest the employee and employer contributions in a default investment fund on behalf of the participant, and the investment shall be deemed to have been made at the participant's investment direction. Provides that the participant has the right to transfer account balances out of the default investment fund during time periods designated by the System. Effective immediately.

PEN CD-SURS-SELF MANAGED PLAN

Rep. Carol Sente [D]	Rep. Elaine Nekritz [D]	Rep. Jeanne Ives [R]	Rep. Michael Zalewski [D]
Rep. Stephanie Kifowit [D]	Rep. Jerry Costello [D]	Rep. Sheri Jesiel [R]	Sen. Daniel Biss [D]

2016-04-20 - House - Third Reading in House (Y: 115 N: 0 NV: 1 Abs: 1) [PASS]

Date	Chamber	Action
2016-07-31	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2016-05-31	Senate	Placed on Calendar Order of 3rd Reading May 31, 2016
2016-05-31	Senate	Second Reading
2016-05-30	Senate	Placed on Calendar Order of 2nd Reading May 30, 2016
2016-05-30	Senate	Approved for Consideration Assignments
2016-04-20	Senate	Referred to Assignments
2016-04-20	Senate	First Reading
2016-04-20	Senate	Chief Senate Sponsor Sen. Daniel Biss
2016-04-20	Senate	Placed on Calendar Order of First Reading
2016-04-20	Senate	Arrive in Senate
2016-04-20	House	Third Reading - Short Debate - Passed 115-000-000
2016-04-19	House	Placed on Calendar Order of 3rd Reading - Short Debate
2016-04-15	House	Held on Calendar Order of Second Reading - Short Debate
2016-04-15	House	Second Reading - Short Debate
2016-04-14	House	Added Co-Sponsor Rep. Sheri Jesiel
2016-04-14	House	Added Co-Sponsor Rep. Jerry Costello, II
2016-04-14	House	Added Chief Co-Sponsor Rep. Stephanie A. Kifowit
2016-04-14	House	Added Chief Co-Sponsor Rep. Michael J. Zalewski
2016-04-14	House	Added Chief Co-Sponsor Rep. Jeanne M Ives
2016-04-14	House	Added Chief Co-Sponsor Rep. Elaine Nekritz
2016-04-13	House	Chief Sponsor Changed to Rep. Carol Sente
2016-03-03	House	House Floor Amendment No. 1 Referred to Rules Committee
2016-03-03	House	House Floor Amendment No. 1 Filed with Clerk by Rep. Elaine Nekritz
2016-03-03	House	Placed on Calendar 2nd Reading - Short Debate
2016-03-03	House	Do Pass / Short Debate Personnel and Pensions Committee; 009-000-000
2016-02-23	House	Assigned to Personnel and Pensions Committee
2016-01-27	House	Referred to Rules Committee
2016-01-27	House	First Reading
2016-01-27	House	Filed with the Clerk by Rep. Elaine Nekritz

Chapter	Article	Section	Citation Type	Statute Text
40	5	15-158.2	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4532&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB4532.htm
Text	https://www.ilga.gov/legislation/99/HB/09900HB4532eng.htm
Amendment	https://www.ilga.gov/legislation/99/HB/09900HB4532ham001.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/99/house/09900HB4532_04202016_008000T.pdf