Illinois House Bill 4595 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 18-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Creates the Illinois Secure Choice Savings Program Act. Establishes a retirement savings program in the form of an automatic enrollment payroll deduction IRA with the intent of promoting greater retirement savings for private-sector employees in a convenient, low-cost, and portable manner. Creates the Illinois Secure Choice Savings Program Fund consisting of moneys received from enrollees and participating employers. Sets forth the composition of the Board, the Board's duties, and provisions governing risk management, investment firms, and investment options. Provides for employee and employer information packets, as well as program implementation and enrollment. Provides that the State shall have no duty or liability to any party for the payment of any retirement savings benefits accrued by any individual under the Program. Requires annual reports and audits of the Program. Sets forth penalties. Amends the State Finance Act to create the Illinois Secure Choice Savings Program Fund. Effective immediately.

SECURE CHOICE SAVINGS PROGRAM

Rep. Barbara Currie [D]	Rep. Scott Drury [D]	Rep. Emanuel Welch [D]	Rep. Robyn Gabel [D]
Rep. Maria Berrios [D]	Rep. Michael Zalewski [D]	Rep. Christian Mitchell [D]	Rep. Monique Davis [D]
Rep. Naomi Jakobsson [D]	Rep. LaShawn Ford [D]	Rep. Thaddeus Jones [D]	Rep. Charles Jefferson [D]
Rep. Kelly Cassidy [D]	Rep. Marcus Evans [D]	Rep. Camille Lilly [D]	Rep. William Davis [D]
Rep. Daniel Burke [D]	Rep. Elizabeth Hernandez [D]

Date	Chamber	Action
2014-12-03	House	Session Sine Die
2014-06-12	House	Added Co-Sponsor Rep. Elizabeth Hernandez
2014-04-09	House	Added Co-Sponsor Rep. Daniel J. Burke
2014-04-08	House	Added Co-Sponsor Rep. William Davis
2014-04-08	House	Added Co-Sponsor Rep. Camille Y. Lilly
2014-03-28	House	Rule 19(a) / Re-referred to Rules Committee
2014-03-27	House	Added Co-Sponsor Rep. Marcus C. Evans, Jr.
2014-03-21	House	Added Co-Sponsor Rep. Kelly M. Cassidy
2014-03-18	House	Added Co-Sponsor Rep. Charles E. Jefferson
2014-03-18	House	Removed Co-Sponsor Rep. Linda Chapa LaVia
2014-03-13	House	Added Co-Sponsor Rep. Thaddeus Jones
2014-03-06	House	Added Co-Sponsor Rep. La Shawn K. Ford
2014-03-05	House	Added Co-Sponsor Rep. Naomi D. Jakobsson
2014-03-05	House	Added Co-Sponsor Rep. Monique D. Davis
2014-02-26	House	Added Co-Sponsor Rep. Linda Chapa LaVia
2014-02-26	House	Added Co-Sponsor Rep. Christian L. Mitchell
2014-02-24	House	Added Co-Sponsor Rep. Michael J. Zalewski
2014-02-20	House	Added Co-Sponsor Rep. Maria Antonia Berrios
2014-02-20	House	To Finance Subcommittee
2014-02-18	House	Assigned to Revenue & Finance Committee
2014-02-06	House	Added Co-Sponsor Rep. Robyn Gabel
2014-02-05	House	Added Co-Sponsor Rep. Emanuel Chris Welch
2014-02-04	House	Referred to Rules Committee
2014-02-04	House	First Reading
2014-02-04	House	Chief Co-Sponsor Rep. Scott Drury
2014-02-04	House	Filed with the Clerk by Rep. Barbara Flynn Currie

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.855	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4595&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB4595.htm