Illinois Senate Bill 734

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on August 4 2023 - 100% progression
Action: 2023-08-04 - Public Act . . . . . . . . . 103-0481
Text: Latest bill text (Chaptered) [HTML]

Amends the School Code. Specifies that the provisions apply to a school district with a full-time licensed teacher population of 575 or more teachers that maintain a 457 plan, except for the Chicago school district. Provides that every applicable school district shall make available to participants more than one financial institution or investment provider to provide services to the school district's 457 plan. Provides that a financial institution or investment provider, by entering into a written agreement, may offer or provide services to a plan offered, established, or maintained by a school district. Provides that each school district that offers a 457 plan shall make available to participants more than one financial institution or investment provider that has not entered into a written agreement to provide administration services and that provides services to a 457 plan offered to school districts. Provides that a financial institution or investment provider shall cover all plan administration costs agreed to by the school district relating to the administration of the 457 plan. Provides that nothing in the amendatory provisions shall apply to or impact the optional defined contribution benefit established by the Teachers' Retirement System of the State of Illinois under the Illinois Pension Code. Sets forth provisions regarding sharing plan data.

PUBLIC EMPLOYEE BENEFITS-TECH

Sen. Michael Halpin [D]

Rep. Stephanie Kifowit [D]

2023-05-25 - Senate - Concurrence in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2023-05-25 - Senate - Concurrence in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2023-05-25 - House - Third Reading in House (Y: 105 N: 0 NV: 1 Abs: 1) [PASS]
2023-03-31 - Senate - Third Reading in Senate (Y: 55 N: 1 NV: 3 Abs: 0) [PASS]

Date	Chamber	Action
2023-08-04	Senate	Public Act . . . . . . . . . 103-0481
2023-08-04	Senate	Effective Date January 1, 2024
2023-08-04	Senate	Governor Approved
2023-06-23	Senate	Sent to the Governor
2023-05-25	Senate	Passed Both Houses
2023-05-25	Senate	Senate Concurs
2023-05-25	Senate	House Floor Amendment No. 2 Senate Concurs 055-000-000
2023-05-25	Senate	House Floor Amendment No. 1 Senate Concurs 055-000-000
2023-05-25	Senate	House Floor Amendment No. 2 Motion to Concur Be Approved for Consideration Assignments
2023-05-25	Senate	House Floor Amendment No. 1 Motion to Concur Be Approved for Consideration Assignments
2023-05-25	Senate	House Floor Amendment No. 2 Motion to Concur Referred to Assignments
2023-05-25	Senate	House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Michael W. Halpin
2023-05-25	Senate	House Floor Amendment No. 1 Motion to Concur Referred to Assignments
2023-05-25	Senate	House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Michael W. Halpin
2023-05-25	Senate	Chief Sponsor Changed to Sen. Michael W. Halpin
2023-05-25	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 25, 2023
2023-05-25	Senate	Secretary's Desk - Concurrence House Amendment(s) 1, 2
2023-05-25	House	Third Reading - Short Debate - Passed 105-000-000
2023-05-25	House	Placed on Calendar Order of 3rd Reading - Short Debate
2023-05-25	House	House Floor Amendment No. 2 Adopted
2023-05-25	House	House Floor Amendment No. 1 Adopted
2023-05-25	House	Recalled to Second Reading - Short Debate
2023-05-25	House	House Floor Amendment No. 2 Recommends Be Adopted Personnel & Pensions Committee; 009-000-000
2023-05-25	House	House Floor Amendment No. 1 Recommends Be Adopted Personnel & Pensions Committee; 009-000-000
2023-05-24	House	House Floor Amendment No. 2 Rules Refers to Personnel & Pensions Committee
2023-05-24	House	House Floor Amendment No. 1 Rules Refers to Personnel & Pensions Committee
2023-05-24	House	House Floor Amendment No. 2 Referred to Rules Committee
2023-05-24	House	House Floor Amendment No. 2 Filed with Clerk by Rep. Stephanie A. Kifowit
2023-05-19	House	Third Reading/Final Action Deadline Extended-9(b) May 31, 2023
2023-05-19	House	House Floor Amendment No. 1 Referred to Rules Committee
2023-05-19	House	House Floor Amendment No. 1 Filed with Clerk by Rep. Stephanie A. Kifowit
2023-05-18	House	Alternate Chief Sponsor Changed to Rep. Stephanie A. Kifowit
2023-05-12	House	Third Reading/Final Action Deadline Extended-9(b) May 19, 2023
2023-05-03	House	Placed on Calendar Order of 3rd Reading - Short Debate
2023-05-03	House	Second Reading - Short Debate
2023-04-27	House	Placed on Calendar 2nd Reading - Short Debate
2023-04-27	House	Do Pass / Short Debate Personnel & Pensions Committee; 006-003-000
2023-04-18	House	Assigned to Personnel & Pensions Committee
2023-04-11	House	Referred to Rules Committee
2023-04-11	House	First Reading
2023-04-03	House	Alternate Chief Sponsor Changed to Rep. Justin Slaughter
2023-03-31	House	Chief House Sponsor Rep. Emanuel "Chris" Welch
2023-03-31	House	Arrived in House
2023-03-31	Senate	Third Reading - Passed; 055-001-000
2023-03-31	Senate	Placed on Calendar Order of 3rd Reading
2023-03-31	Senate	Senate Floor Amendment No. 1 Adopted; Harris
2023-03-31	Senate	Recalled to Second Reading
2023-03-30	Senate	Senate Floor Amendment No. 1 Recommend Do Adopt Senate Special Committee on Pensions; 011-000-000
2023-03-28	Senate	Chief Sponsor Changed to Sen. Napoleon Harris, III
2023-03-28	Senate	Senate Floor Amendment No. 1 Assignments Refers to Senate Special Committee on Pensions
2023-03-22	Senate	Senate Floor Amendment No. 1 Referred to Assignments
2023-03-22	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. Napoleon Harris, III
2023-03-10	Senate	Placed on Calendar Order of 3rd Reading March 21, 2023
2023-03-10	Senate	Second Reading
2023-03-09	Senate	Placed on Calendar Order of 2nd Reading March 10, 2023
2023-03-09	Senate	Do Pass Executive; 011-000-000
2023-03-02	Senate	Assigned to Executive
2023-02-02	Senate	Referred to Assignments
2023-02-02	Senate	First Reading
2023-02-02	Senate	Filed with Secretary by Sen. Don Harmon

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-101.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=734&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB0734.htm
Text	https://www.ilga.gov/legislation/103/SB/10300SB0734eng.htm
Text	https://www.ilga.gov/legislation/103/SB/10300SB0734enr.htm
Text	https://www.ilga.gov/legislation/publicacts/103/103-0481.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB0734sam001.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB0734ham001.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB0734ham002.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/103/senate/10300SB0734_03312023_020000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/103/house/10300SB0734_05252023_018000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/103/senate/10300SB0734ham002_05252023_016001C.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/103/senate/10300SB0734ham001_05252023_016000C.pdf