Bill Text: IL HB5317 | 2019-2020 | 101st General Assembly | Introduced

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Bill Title: Creates the Defined Benefit Plan Reporting Act. Provides that all defined benefit plans that are not covered by the Employee Retirement Income Security Act of 1974 and have 200 or more plan members shall be required to comply with a specified provision of federal law that requires reporting certain fiscal information to participants and beneficiaries. Provides that the requirement does not apply to governmental plans. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB5317 Detail]

Download: Illinois-2019-HB5317-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 HB5317 Introduced , by Rep. Anna Moeller SYNOPSIS AS INTRODUCED:
New Act
Creates the Defined Benefit Plan Reporting Act. Provides that all defined benefit plans that are not covered by the Employee Retirement Income Security Act of 1974 and have 200 or more plan members shall be required to comply with a specified provision of federal law that requires reporting certain fiscal information to participants and beneficiaries. Provides that the requirement does not apply to governmental plans. Effective immediately.
LRB101 14759 RPS 63717 b
A BILL FOR
HB5317 LRB101 14759 RPS 63717 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. Short title. This Act may be cited as the
Defined Benefit Plan Reporting Act.
Section 5. Defined benefit plan reporting requirements.
All defined benefit plans that are not covered by the Employee
Retirement Income Security Act of 1974 and have 200 or more
plan members shall be required to comply with 29 U.S.C.
1024(b)(3).
Section 10. Applicability. This Section does not apply to
governmental plans as defined in 29 U.S.C. 1002(32).
Section 99. Effective date. This Act takes effect upon
becoming law.