PENSION ETHICS
Summary
Amends the Illinois Governmental Ethics Act. Requires members of the board of any pension fund or retirement system established under the Illinois Pension Code to file a statement of economic interests. Amends the State Officials and Employees Ethics Act. Includes appointed or elected commissioners, trustees, directors, or board members of a board of a State agency, including the boards found in the Illinois Pension Code, in the definition of "employee". Amends the Illinois Pension Code. Makes changes in provisions concerning the definition of "fiduciary", allocation and delegation of fiduciary duties, and prohibited transactions. Adds provisions concerning investment advisers, consultants, and investment services for investment boards, pension funds, and retirement systems other than downstate police and fire pension funds; investment transparency; prohibitions on monetary gain on investments; fraud, prohibitions on gifts; contingent fees; and procurements for pension funds, retirement systems, and investment boards, except downstate police and fire pension funds. Requires the University of Illinois to create the Illinois Fiduciary College for the purpose of education pension fund, retirement system, and investment board members and staffs on ethics.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2009
Committee Review
Floor Vote
Governor
Introduced Feb 19, 2009
Last action Jan 12, 2011
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
21
Key actions
0
Committee
14
Amendments
2
Jan 12, 2011
Senate · Failed
Session Sine Die
Apr 3, 2009
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Apr 3, 2009
Senate · Referred to committee
Senate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments
Apr 3, 2009
Senate · Referred to committee
Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
Mar 13, 2009
Senate · Reported by committee
Rule 2-10 Committee Deadline Established As April 3, 2009
Mar 12, 2009
Senate · Reported by committee
Held in Executive; Subcommittee on Ethics
Mar 6, 2009
Senate · Reported by committee
To Executive Subcommittee on Ethics
Mar 6, 2009
Senate · Reported by committee
Senate Committee Amendment No. 2 To Executive Subcommittee on Ethics
Mar 6, 2009
Senate · Reported by committee
Senate Committee Amendment No. 1 To Executive Subcommittee on Ethics
Mar 5, 2009
Senate · Reported by committee
Senate Committee Amendment No. 2 Assignments Refers to Executive
Mar 5, 2009
Senate · Reported by committee
Senate Committee Amendment No. 1 Assignments Refers to Executive
Mar 4, 2009
Senate · Referred to committee
Senate Committee Amendment No. 2 Referred to Assignments
Mar 4, 2009
Senate · Amendment offered
Senate Committee Amendment No. 2 Filed with Secretary by Sen. Kwame Raoul
Mar 4, 2009
Senate · Referred to committee
Senate Committee Amendment No. 1 Referred to Assignments
Mar 4, 2009
Senate · Amendment offered
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Kwame Raoul
Feb 25, 2009
Senate · Referred to committee
Assigned to Executive
Feb 19, 2009
Senate · Referred to committee
Referred to Assignments
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Kwame Raoul
DDemocratic
Ask Maddy
·
AI policy assistant
Ask Maddy about SB 1656
Scope: IL
Hi! I can help you understand SB 1656. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline