Illinois 95th Regular Session Status: Passed Senate

SB 2529 — PEN CD-SURS-PORTABLE BENEFIT

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 95th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Amends the State Universities Article of the Illinois Pension Code. In provisions concerning retirement and survivor benefits under the portable benefit package, makes various technical changes, including referring to the optional benefit choices as optional forms of payment. Effective immediately.

Bill Text

What changed in the latest version

8 added · 27 removed

Plain-language change summary

The updated version of Bill SB 2529 made some technical changes to clarify language regarding retirement and survivor benefits in the Illinois Pension Code. Specifically, it now refers to optional benefit choices as "optional forms of payment." These adjustments may seem minor, but they help ensure that the language in the bill is clear and precise, benefiting those who rely on these guidelines for their pension plans.

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*LRB09518550AMC44636b* SB2529 95TH GENERAL ASSEMBLY State of Illinois and 2008 SB2529 Introduced 2/15/2008, by Sen.
SB2529 Engrossed LRB095 18550 AMC 44636 b AN ACT concerning public employment benefits.
Kwame Raoul SYNOPSIS AS INTRODUCED:
ILCS 5/15-136.4 Amends the State Universities Article of the Illinois Pension Code.
In provisions concerning retirement and survivor benefits under the portable benefit package, makes various technical changes, including referring to the optional benefit choices as optional forms of payment.
Effective immediately.
LRB095 18550 AMC 44636 b PENSION IMPACT NOTE ACT MAY APPLY A BILL FOR SB2529 LRB095 18550 AMC 44636 b AN ACT concerning public employment benefits.
If the participant is unmarried on the date his or SB2529 - 2 - LRB095 18550 AMC 44636 b her annuity payment period begins payments commence, then the annuity payments shall be made in the form of a single-life annuity as described in Section 15-118.
If the participant is unmarried on the date his or SB2529 Engrossed - 2 - LRB095 18550 AMC 44636 b her annuity payment period begins payments commence, then the annuity payments shall be made in the form of a single-life annuity as described in Section 15-118.
If the participant is married and elects an optional form of payment annuity under subsection (h) other than a joint and survivor annuity with the eligible spouse designated as the contingent annuitant, then such election shall require the consent of his or her eligible spouse in the SB2529 - 3 - LRB095 18550 AMC 44636 b manner described in subsection (d).
If the participant is married and elects an optional form of payment annuity under subsection (h) other than a joint and survivor annuity with the eligible spouse designated as the contingent annuitant, then such election shall require the consent of his or her eligible spouse in the SB2529 Engrossed - 3 - LRB095 18550 AMC 44636 b manner described in subsection (d).
The eligible spouse’s consent to an election made by a participant pursuant to this Section, SB2529 - 4 - LRB095 18550 AMC 44636 b once made, may not be revoked by the eligible spouse.
The eligible spouse’s consent to an election made by a participant pursuant to this Section, SB2529 Engrossed - 4 - LRB095 18550 AMC 44636 b once made, may not be revoked by the eligible spouse.
The SB2529 - 5 - LRB095 18550 AMC 44636 b monthly amount payable to the spouse under the pre-retirement survivor annuity shall be equal to the monthly amount that would be payable as a survivor annuity under the qualified joint and survivor annuity described in subsection (b) if:
The SB2529 Engrossed - 5 - LRB095 18550 AMC 44636 b monthly amount payable to the spouse under the pre-retirement survivor annuity shall be equal to the monthly amount that would be payable as a survivor annuity under the qualified joint and survivor annuity described in subsection (b) if:
Prior to electing any waiver of the pre-retirement survivor annuity, the participant shall be provided with a written explanation of (1) the terms and SB2529 - 6 - LRB095 18550 AMC 44636 b conditions of the pre-retirement survivor annuity and the death benefits payable from the system both with and without the pre-retirement survivor annuity, (2) the participant’s right to elect a waiver of the pre-retirement survivor annuity coverage subject to his or her spouse’s consent, and (3) the participant’s right to reinstate pre-retirement survivor annuity coverage at any time by revoking a prior waiver of such coverage.
Prior to electing any waiver of the pre-retirement survivor annuity, the participant shall be provided with a written explanation of (1) the terms and SB2529 Engrossed - 6 - LRB095 18550 AMC 44636 b conditions of the pre-retirement survivor annuity and the death benefits payable from the system both with and without the pre-retirement survivor annuity, (2) the participant’s right to elect a waiver of the pre-retirement survivor annuity coverage subject to his or her spouse’s consent, and (3) the participant’s right to reinstate pre-retirement survivor annuity coverage at any time by revoking a prior waiver of such coverage.
The participant may SB2529 - 7 - LRB095 18550 AMC 44636 b elect to receive a lump sum retirement benefit that is equal to the amount of a refund payable under Section 15-154(a-2).
The participant may SB2529 Engrossed - 7 - LRB095 18550 AMC 44636 b elect to receive a lump sum retirement benefit that is equal to the amount of a refund payable under Section 15-154(a-2).
SB2529 - 8 - LRB095 18550 AMC 44636 b (Source:
SB2529 Engrossed - 8 - LRB095 18550 AMC 44636 b (Source:
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Action History

  1. Session Sine Die

  2. Referred to Rules Committee

  3. First Reading

  4. Chief House Sponsor Rep. Robert S. Molaro

  5. Placed on Calendar Order of First Reading

  6. Arrived in House

  7. Third Reading - Passed; 058-000-000

  8. Placed on Calendar Order of 3rd Reading April 1, 2008

  9. Second Reading

  10. Placed on Calendar Order of 2nd Reading March 11, 2008

  11. Do Pass Pensions and Investments; 007-000-000

  12. Assigned to Pensions and Investments

  13. Referred to Rules

  14. First Reading

  15. Filed with Secretary by Sen. Kwame Raoul

Sponsors

  • Kwame Raoul · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on

Sponsors (0)

None.

Co-sponsors (1)

  • Kwame Raoul

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 58 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 48001
Democrat 9000
Republican 1000
Total 58001
% of votes cast 98%0%0%2%
How each member voted (59)
Member Party Vote
Halvorson — Yea
Hultgren — Not Voting
Link — Yea
Luechtefeld — Yea
Maloney — Yea
Meeks — Yea
Noland — Yea
Brady — Yea
Schoenberg — Yea
Silverstein — Yea
Steans — Yea
Sullivan — Yea
Munoz — Yea
Trotter — Yea
Viverito — Yea
Cullerton — Yea
Watson — Yea
Jacobs — Yea
Wilhelmi — Yea
Jones, J. — Yea
Clayborne — Yea
Cronin — Yea
Crotty — Yea
Dahl — Yea
Dillard — Yea
Forby — Yea
Frerichs — Yea
Garrett — Yea
Haine — Yea
Hendon — Yea
Demuzio — Yea
DeLeo — Yea
Kotowski — Yea
Pankau — Yea
Peterson — Yea
Radogno — Yea
Raoul — Yea
Righter — Yea
Risinger — Yea
Rutherford — Yea
Sandoval — Yea
Lauzen — Yea
Althoff — Yea
Martinez — Yea
Bivins — Yea
Bomke — Yea
Bond — Yea
Burzynski — Yea
Millner — Yea
David Koehler Democrat Yea
Don Harmon Democrat Yea
Emil Jones, III Democrat Yea
Eva-Dina Delgado Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Laura M. Murphy Democrat Yea
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Dave Syverson Republican Yea

Official roll call →

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 2529 do?
Amends the State Universities Article of the Illinois Pension Code. In provisions concerning retirement and survivor benefits under the portable benefit package, makes various technical changes, including referring to the optional benefit choices as optional forms of payment. Effective immediately.
Who sponsors SB 2529?
SB 2529 is sponsored by Kwame Raoul.
What is the current status of SB 2529?
This bill died with 95th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 2529?
Track SB 2529 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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