PEN CD-SURS-OPTIONAL DC PLAN
Summary
Amends the State Universities Article of the Illinois Pension Code. Provides that as soon as practicable after the effective date of the amendatory Act, the optional defined contribution plan shall provide for an eligible automatic contribution arrangement that permits a withdrawal of default elective contributions in accordance with a specified provision of the Internal Revenue Code of 1986, as amended, and United States Department of Treasury regulations promulgated thereunder. Changes references from "defined contribution benefit" to "defined contribution plan". Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2020
Committee Review
Floor Vote
Governor
Introduced Feb 5, 2020
Last action May 15, 2020
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
16
Key actions
1
Committee
5
Amendments
1
Apr 12, 2020
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
Mar 5, 2020
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
Mar 5, 2020
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
upper
Feb 19, 2020
Upper · Passed
Do Pass Government Accountability and Ethics; 012-000-000
upper
Feb 11, 2020
Committee
Assigned to Government Accountability and Ethics
upper
Feb 5, 2020
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
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