Bill Status of SB 1455   104th General Assembly

Short Description:  PEN CD-DEFERRED COMP-FEES

Senate Sponsors
Sen. Robert F. Martwick

Last Action  View All Actions

DateChamber Action
  6/2/2025SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
40 ILCS 5/24-104.1from Ch. 108 1/2, par. 24-104.1
30 ILCS 805/8.49 new

Synopsis As Introduced
Amends the Deferred Compensation Article of the Illinois Pension Code. Provides that, after January 1, 2026, 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.

Senate Floor Amendment No. 1
Replaces everything after the enacting clause. Amends the Deferred Compensation Article of the Illinois Pension Code. Provides that, beginning January 1, 2026, the Department of Central Management Services shall provide for the recovery of its expenses for administering the State Employees Deferred Compensation Plan pursuant to a provision concerning the Department's administration of the State Employees Deferred Compensation Plan by charging fees equitably prorated among the participating employers. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Actions 
DateChamber Action
  1/31/2025SenateFiled with Secretary by Sen. Robert F. Martwick
  1/31/2025SenateFirst Reading
  1/31/2025SenateReferred to Assignments
  3/12/2025SenateAssigned to Pensions
  3/19/2025SenateDo Pass Pensions; 007-003-000
  3/19/2025SenatePlaced on Calendar Order of 2nd Reading March 20, 2025
  4/2/2025SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
  4/2/2025SenateSenate Floor Amendment No. 1 Referred to Assignments
  4/8/2025SenateSenate Floor Amendment No. 1 Assignments Refers to Pensions
  4/9/2025SenateSenate Floor Amendment No. 1 Recommend Do Adopt Pensions; 008-001-000
  4/9/2025SenateSecond Reading
  4/9/2025SenateSenate Floor Amendment No. 1 Adopted; Martwick
  4/9/2025SenatePlaced on Calendar Order of 3rd Reading April 10, 2025
  4/11/2025SenateRule 2-10 Third Reading Deadline Established As May 9, 2025
  5/9/2025SenateRule 2-10 Third Reading Deadline Established As May 23, 2025
  5/23/2025SenateRule 2-10 Third Reading Deadline Established As June 1, 2025
  6/2/2025SenateRule 3-9(a) / Re-referred to Assignments

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