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HB 5495 Illinois House · 97th Regular Session

DEFINED CONTRIB PLANS-PRUDENCE

Summary
Amends the State Mandates Act. Provides that nothing in the amendatory Act shall override the process established under the provision of the School Code concerning the prohibition against unfunded mandates. Amends the Counties Code and Illinois Municipal Code to provide that beginning January 1, 2015, 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 beginning January 1, 2015, 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.
Bill status signed all 5 stages cleared
Introduction
Mar 2012
Committee Review
Jan 2013
House Passage
Jan 2013
Senate Passage
Jan 2013
Signed into Law
Jan 2013
Introduced Mar 30, 2012 Signed Jan 25, 2013
Floor votes · Senate Jan 3, 2013 · House Jan 8, 2013

How they voted

28–12
Passed · 6 other
Total votes 46
Jan 3, 2013
D Democratic27
22 Yea 1 Nay 4
81% Yea
R Republican19
6 Yea 11 Nay 2
57% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
101
Key actions
13
Committee
22
Amendments
24
Jan 25, 2013
Signed into law
Governor Approved
lower
Jan 8, 2013
Lower · Passed
Passed Both Houses
lower
Jan 8, 2013
Introduced
Senate Floor Amendment No. 5 House Concurs 080-030-001
lower
Jan 8, 2013
Lower · Passed
Senate Committee Amendment No. 1 House Concurs 080-030-001
lower
Jan 6, 2013
Lower · Passed
Senate Floor Amendment No. 5 Motion to Concur Recommends Be Adopted Rules Committee; 003-001-000
lower
Jan 6, 2013
Lower · Passed
Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 003-001-000
lower
Jan 6, 2013
Committee
Senate Floor Amendment No. 5 Motion to Concur Referred to Rules Committee
lower
Jan 6, 2013
Introduced
Senate Floor Amendment No. 5 Motion Filed Concur Rep. Elaine Nekritz
lower
Jan 6, 2013
Committee
Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
lower
Jan 6, 2013
Lower · Passed
Senate Committee Amendment No. 1 Motion Filed Concur Rep. Elaine Nekritz
lower
Jan 4, 2013
Introduced
Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 5
lower
Jan 4, 2013
Introduced
Arrived in House
lower
Jan 3, 2013
Upper · Passed
Senate Floor Amendment No. 5 Adopted; Garrett
upper
Jan 3, 2013
Introduced
Senate Floor Amendment No. 5 Recommend Do Adopt Revenue; 006-003-000
upper
Jan 3, 2013
Senate · Passed
Senate Vote: pass (28-12-6)
senate
Jan 2, 2013
Introduced
Senate Floor Amendment No. 4 Be Approved for Consideration Assignments
upper
Jan 2, 2013
Introduced
Senate Floor Amendment No. 3 Be Approved for Consideration Assignments
upper
Jan 2, 2013
Introduced
Senate Floor Amendment No. 2 Be Approved for Consideration Assignments
upper
Jan 2, 2013
Introduced
Senate Floor Amendment No. 5 Assignments Refers to Revenue
upper
Jan 2, 2013
Committee
Senate Floor Amendment No. 5 Referred to Assignments
upper
Jan 2, 2013
Introduced
Senate Floor Amendment No. 5 Filed with Secretary by Sen. Susan Garrett
upper
Jul 1, 2012
Committee
Senate Floor Amendment No. 4 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b).
upper
Jul 1, 2012
Committee
Senate Floor Amendment No. 3 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b).
upper
Jul 1, 2012
Committee
Senate Floor Amendment No. 2 Re-referred to Assignments; Pursuant to Senate Rule 3-9(b).
upper
Jul 1, 2012
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
May 31, 2012
Introduced
Senate Floor Amendment No. 4 Recommend Do Adopt Executive; 011-002-000
upper
May 31, 2012
Introduced
Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 011-002-000
upper
May 31, 2012
Introduced
Senate Floor Amendment No. 2 Recommend Do Adopt Executive; 011-002-000
upper
May 31, 2012
Introduced
Senate Floor Amendment No. 4 Assignments Refers to Executive
upper
May 30, 2012
Introduced
Senate Floor Amendment No. 2 Assignments Refers to Executive
upper
May 30, 2012
Introduced
Senate Floor Amendment No. 2 Assignments Refers to Assignments
upper
May 30, 2012
Introduced
Senate Floor Amendment No. 3 Assignments Refers to Executive
upper
May 30, 2012
Committee
Senate Floor Amendment No. 4 Referred to Assignments
upper
May 30, 2012
Introduced
Senate Floor Amendment No. 4 Filed with Secretary by Sen. Don Harmon
upper
May 30, 2012
Committee
Senate Floor Amendment No. 3 Referred to Assignments
upper
May 30, 2012
Introduced
Senate Floor Amendment No. 3 Filed with Secretary by Sen. Don Harmon
upper
May 23, 2012
Introduced
Senate Floor Amendment No. 2 Postponed - Pensions and Investments
upper
May 22, 2012
Introduced
Senate Floor Amendment No. 2 Assignments Refers to Pensions and Investments
upper
May 22, 2012
Committee
Senate Floor Amendment No. 2 Referred to Assignments
upper
May 22, 2012
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Don Harmon
upper
May 16, 2012
Upper · Passed
Do Pass as Amended Pensions and Investments; 007-002-000
upper
May 16, 2012
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
May 15, 2012
Upper · Passed
Senate Committee Amendment No. 1 Assignments Refers to Pensions and Investments
upper
May 10, 2012
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
May 10, 2012
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
upper
May 4, 2012
Upper · Passed
Rule 2-10 Committee Deadline Established As May 25, 2012
upper
Apr 11, 2012
Committee
Assigned to Pensions and Investments
upper
Mar 30, 2012
Committee
Referred to Assignments
upper
Mar 30, 2012
Introduced
Arrive in Senate
upper
Mar 8, 2012
Lower · Passed
Do Pass / Short Debate Personnel and Pensions Committee; 008-000-000
lower
Feb 27, 2012
Committee
Assigned to Personnel and Pensions Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.