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SB 2420 Illinois Senate · 99th Regular Session

SECURE CHOICE INVEST POLICY

Summary
Amends the Illinois Secure Choice Savings Program Act. Provides that the total annual expenses, rather than the annual administrative expenses, shall not exceed 0.75% of the total trust balance. Removes a requirement that the Board prepare a statement of investment policy annually. Provides that the investment policy shall be published on the Board's or State Treasurer's website. Provides that small employers' use of automatic enrollment is subject to federal rules. Makes other changes. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Apr 2016
Committee Review
May 2016
Senate Passage
May 2016
House Passage
May 2016
Signed into Law
Jul 2016
Introduced Apr 20, 2016 Signed Jul 15, 2016
Floor votes · Senate Apr 19, 2016 · House May 11, 2016

How they voted

46–0
Passed · 6 other
Total votes 52
Apr 19, 2016
D Democratic34
32 Yea 2
94% Yea
R Republican18
14 Yea 4
77% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
36
Key actions
10
Committee
10
Amendments
4
Jul 15, 2016
Signed into law
Governor Approved
upper
May 11, 2016
Upper · Passed
Passed Both Houses
upper
May 11, 2016
House · Passed
House Vote: pass (100-0-4)
house
May 5, 2016
Lower · Passed
Do Pass / Short Debate Revenue & Finance Committee; 010-000-000
lower
May 5, 2016
Lower · Passed
Remains in Revenue & Finance Committee
lower
May 5, 2016
Lower · Passed
Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
lower
Apr 27, 2016
Lower · Passed
To Income Tax Subcommittee
lower
Apr 26, 2016
Committee
Assigned to Revenue & Finance Committee
lower
Apr 20, 2016
Committee
Referred to Rules Committee
lower
Apr 20, 2016
Introduced
Arrived in House
lower
Apr 19, 2016
Upper · Passed
Senate Floor Amendment No. 1 Adopted; Biss
upper
Apr 19, 2016
Senate · Passed
Senate Vote: pass (46-0-6)
senate
Apr 14, 2016
Introduced
Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 012-000-000
upper
Apr 13, 2016
Introduced
Senate Floor Amendment No. 1 Assignments Refers to Executive
upper
Apr 12, 2016
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
Apr 12, 2016
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Daniel Biss
upper
Mar 2, 2016
Upper · Passed
Do Pass Executive; 012-003-000
upper
Feb 17, 2016
Committee
Assigned to Executive
upper
Feb 9, 2016
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.