Illinois Senate Bill 2607 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Deferred Compensation Article of the Illinois Pension Code. Provides that, after January 1, 2024, the deferred compensation plan shall provide for the recovery of the expenses of its administration by charging fees equitably prorated among the participating employers (instead of by charging administrative expenses against the earnings from investments or by charging fees equitably prorated among the participating State employees or by such other appropriate and equitable method as the Illinois State Board of Investment shall determine). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

PEN CD-DEFERRED COMP-FEES

Sen. Robert Martwick [D]

Date	Chamber	Action
2025-01-07	Senate	Session Sine Die
2024-05-17	Senate	Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
2024-05-17	Senate	Rule 3-9(a) / Re-referred to Assignments
2024-05-03	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 17, 2024
2024-04-09	Senate	Senate Committee Amendment No. 1 Assignments Refers to Appropriations
2024-04-05	Senate	Rule 2-10 Committee Deadline Established As May 3, 2024
2024-04-04	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2024-04-04	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
2024-03-15	Senate	Rule 2-10 Committee Deadline Established As April 5, 2024
2024-01-24	Senate	Assigned to Appropriations
2023-10-18	Senate	Referred to Assignments
2023-10-18	Senate	First Reading
2023-10-18	Senate	Filed with Secretary by Sen. Robert F. Martwick

Chapter	Article	Section	Citation Type	Statute Text
30	805	8.47	New Code	See Bill Text
40	5	24-104.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2607&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2607.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB2607sam001.htm