DEFINED CONTRIB PLANS-PRUDENCE House SponsorsRep. Karen May 1/8/2013HouseSession Sine Die 55 ILCS 5/Div. 6-35 heading new55 ILCS 5/6-35000 new65 ILCS 5/8-1-20 new105 ILCS 5/10-20.53 new30 ILCS 805/8.35 new Amends the Counties Code and Illinois Municipal Code to provide that if a county or municipality offers a 457(b) plan to its officers, employees, or both, or makes contributions to such a plan on behalf of its officers, employees, or both, then that county or municipality, and the persons acting under its authority, must act in accordance with the prudent investor rule when making plan-related decisions. Limits the concurrent exercise of home rule powers. Amends the School Code to provide that if a school board other than the Chicago Board of Education offers a 403(b) or 457(b) plan to its officers, employees, or both, or makes contributions to such a plan on behalf of its officers, employees, or both, then that school board, and the persons acting under its authority, must act in accordance with the prudent investor rule when making plan-related decisions. Amends the State Mandates Act to require implementation without reimbursement. 2/24/2011HouseFiled with the Clerk by Rep. Karen May 2/24/2011HouseFirst Reading 2/24/2011HouseReferred to Rules Committee 2/28/2011HouseAssigned to Personnel and Pensions Committee 3/17/2011HouseRule 19(a) / Re-referred to Rules Committee 1/8/2013HouseSession Sine Die