IL SB0734 | 2023-2024 | 103rd General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on August 4 2023 - 100% progression
Action: 2023-08-04 - Public Act . . . . . . . . . 103-0481
Text: Latest bill text (Chaptered) [HTML]

Summary

Amends the School Code. Specifies that the provisions apply to a school district with a full-time licensed teacher population of 575 or more teachers that maintain a 457 plan, except for the Chicago school district. Provides that every applicable school district shall make available to participants more than one financial institution or investment provider to provide services to the school district's 457 plan. Provides that a financial institution or investment provider, by entering into a written agreement, may offer or provide services to a plan offered, established, or maintained by a school district. Provides that each school district that offers a 457 plan shall make available to participants more than one financial institution or investment provider that has not entered into a written agreement to provide administration services and that provides services to a 457 plan offered to school districts. Provides that a financial institution or investment provider shall cover all plan administration costs agreed to by the school district relating to the administration of the 457 plan. Provides that nothing in the amendatory provisions shall apply to or impact the optional defined contribution benefit established by the Teachers' Retirement System of the State of Illinois under the Illinois Pension Code. Sets forth provisions regarding sharing plan data.

Tracking Information

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Title

PUBLIC EMPLOYEE BENEFITS-TECH

Sponsors


Roll Calls

2023-05-25 - Senate - Concurrence in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2023-05-25 - Senate - Concurrence in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2023-05-25 - House - Third Reading in House (Y: 105 N: 0 NV: 1 Abs: 1) [PASS]
2023-03-31 - Senate - Third Reading in Senate (Y: 55 N: 1 NV: 3 Abs: 0) [PASS]

History

DateChamberAction
2023-08-04SenatePublic Act . . . . . . . . . 103-0481
2023-08-04SenateEffective Date January 1, 2024
2023-08-04SenateGovernor Approved
2023-06-23SenateSent to the Governor
2023-05-25SenatePassed Both Houses
2023-05-25SenateSenate Concurs
2023-05-25SenateHouse Floor Amendment No. 2 Senate Concurs 055-000-000
2023-05-25SenateHouse Floor Amendment No. 1 Senate Concurs 055-000-000
2023-05-25SenateHouse Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Assignments
2023-05-25SenateHouse Floor Amendment No. 1 Motion to Concur Be Approved for Consideration Assignments
2023-05-25SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments
2023-05-25SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Michael W. Halpin
2023-05-25SenateHouse Floor Amendment No. 1 Motion to Concur Referred to Assignments
2023-05-25SenateHouse Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Michael W. Halpin
2023-05-25SenateChief Sponsor Changed to Sen. Michael W. Halpin
2023-05-25SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 25, 2023
2023-05-25SenateSecretary's Desk - Concurrence House Amendment(s) 1, 2
2023-05-25HouseThird Reading - Short Debate - Passed 105-000-000
2023-05-25HousePlaced on Calendar Order of 3rd Reading - Short Debate
2023-05-25HouseHouse Floor Amendment No. 2 Adopted
2023-05-25HouseHouse Floor Amendment No. 1 Adopted
2023-05-25HouseRecalled to Second Reading - Short Debate
2023-05-25HouseHouse Floor Amendment No. 2 Recommends Be Adopted Personnel & Pensions Committee; 009-000-000
2023-05-25HouseHouse Floor Amendment No. 1 Recommends Be Adopted Personnel & Pensions Committee; 009-000-000
2023-05-24HouseHouse Floor Amendment No. 2 Rules Refers to Personnel & Pensions Committee
2023-05-24HouseHouse Floor Amendment No. 1 Rules Refers to Personnel & Pensions Committee
2023-05-24HouseHouse Floor Amendment No. 2 Referred to Rules Committee
2023-05-24HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Stephanie A. Kifowit
2023-05-19HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2023
2023-05-19HouseHouse Floor Amendment No. 1 Referred to Rules Committee
2023-05-19HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Stephanie A. Kifowit
2023-05-18HouseAlternate Chief Sponsor Changed to Rep. Stephanie A. Kifowit
2023-05-12HouseThird Reading/Final Action Deadline Extended-9(b) May 19, 2023
2023-05-03HousePlaced on Calendar Order of 3rd Reading - Short Debate
2023-05-03HouseSecond Reading - Short Debate
2023-04-27HousePlaced on Calendar 2nd Reading - Short Debate
2023-04-27HouseDo Pass / Short Debate Personnel & Pensions Committee; 006-003-000
2023-04-18HouseAssigned to Personnel & Pensions Committee
2023-04-11HouseReferred to Rules Committee
2023-04-11HouseFirst Reading
2023-04-03HouseAlternate Chief Sponsor Changed to Rep. Justin Slaughter
2023-03-31HouseChief House Sponsor Rep. Emanuel "Chris" Welch
2023-03-31HouseArrived in House
2023-03-31SenateThird Reading - Passed; 055-001-000
2023-03-31SenatePlaced on Calendar Order of 3rd Reading
2023-03-31SenateSenate Floor Amendment No. 1 Adopted; Harris
2023-03-31SenateRecalled to Second Reading
2023-03-30SenateSenate Floor Amendment No. 1 Recommend Do Adopt Senate Special Committee on Pensions; 011-000-000
2023-03-28SenateChief Sponsor Changed to Sen. Napoleon Harris, III
2023-03-28SenateSenate Floor Amendment No. 1 Assignments Refers to Senate Special Committee on Pensions
2023-03-22SenateSenate Floor Amendment No. 1 Referred to Assignments
2023-03-22SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
2023-03-10SenatePlaced on Calendar Order of 3rd Reading March 21, 2023
2023-03-10SenateSecond Reading
2023-03-09SenatePlaced on Calendar Order of 2nd Reading March 10, 2023
2023-03-09SenateDo Pass Executive; 011-000-000
2023-03-02SenateAssigned to Executive
2023-02-02SenateReferred to Assignments
2023-02-02SenateFirst Reading
2023-02-02SenateFiled with Secretary by Sen. Don Harmon

Code Citations

ChapterArticleSectionCitation TypeStatute Text
4051-101.1Amended CodeCitation Text

Illinois State Sources

TypeSource
Summaryhttps://www.ilga.gov/legislation/BillStatus.asp?DocNum=734&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Texthttps://www.ilga.gov/legislation/103/SB/10300SB0734.htm
Texthttps://www.ilga.gov/legislation/103/SB/10300SB0734eng.htm
Texthttps://www.ilga.gov/legislation/103/SB/10300SB0734enr.htm
Texthttps://www.ilga.gov/legislation/publicacts/103/103-0481.htm
Amendmenthttps://www.ilga.gov/legislation/103/SB/10300SB0734sam001.htm
Amendmenthttps://www.ilga.gov/legislation/103/SB/10300SB0734ham001.htm
Amendmenthttps://www.ilga.gov/legislation/103/SB/10300SB0734ham002.htm
Roll Callhttps://www.ilga.gov/legislation/votehistory/103/senate/10300SB0734_03312023_020000T.pdf
Roll Callhttps://www.ilga.gov/legislation/votehistory/103/house/10300SB0734_05252023_018000T.pdf
Roll Callhttps://www.ilga.gov/legislation/votehistory/103/senate/10300SB0734ham002_05252023_016001C.pdf
Roll Callhttps://www.ilga.gov/legislation/votehistory/103/senate/10300SB0734ham001_05252023_016000C.pdf

Bill Comments

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