Illinois 104th General Assembly Status: Introduced 4 D cosponsors

SB2016      — SCH CD-RETIREMENT SAVINGS PLAN

Last action — Added as Co-Sponsor Sen. Rachel Ventura

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

This bill has been introduced in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 34% · moderate confidence

  • Introduced

    Current position in the legislative process.

  • 4 sponsors

    1 primary, 3 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (4 D).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Amends the School Code. Provides that, by July 1, 2027, the school board of each school district in the State that offers its employees a retirement savings plan established under Section 403(b) of the Internal Revenue Code of 1986 may enter into a contract with one or more vendors to provide participants with plan investments options. Provides that a vendor selected under after the effective date of the Act must be mutually agreed upon by the affected collective bargaining unit or units and the school board must ensure that the vendor follows the specified investment guidelines. Permits a specified vendor offering a plan to charge an investment advisory representative fee not to exceed 0.50% annually. Provides that, if a new vendor is chosen to administer a retirement saving plan that is offered by the specified school board of a school district, an employee of the school district may opt out of having the employee's individual 403(b) assets transferred to that new vendor. Limits applicability of the provisions to contracts entered into, extended, or renewed on or after the effective date of the Act.

Bill Text

We don't have the full text on file for this bill yet.

Read SB2016 on the official Illinois source →

Action History

  1. Added as Co-Sponsor Sen. Rachel Ventura

  2. Rule 3-9(a) / Re-referred to Assignments

  3. Rule 2-10 Third Reading Deadline Established As June 1, 2025

  4. Rule 2-10 Third Reading Deadline Established As May 23, 2025

  5. Rule 2-10 Third Reading Deadline Established As May 9, 2025

  6. Added as Co-Sponsor Sen. Linda Holmes

  7. Placed on Calendar Order of 3rd Reading April 1, 2025

  8. Second Reading

  9. Placed on Calendar Order of 2nd Reading March 20, 2025

  10. Do Pass Pensions; 007-003-000

  11. Added as Chief Co-Sponsor Sen. Robert F. Martwick

  12. Assigned to Pensions

  13. Referred to Assignments

  14. First Reading

  15. Filed with Secretary by Sen. Karina Villa

Sponsors

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 179 not signed on · 3 voted No

Sponsors (1)

Co-sponsors (3)

Not signed on (179)

179 members have not signed on to this bill.

Show all 179 →

"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

Pensions

Passed 7 Yea · 3 Nay
Party YeaNayPresentNot Voting
Republican 0300
Democrat 7000
Total 7300
% of votes cast 70%30%0%0%
How each member voted (10)
Member Party Vote
Javier L. Cervantes Democrat Yea
Karina Villa Democrat Yea
Laura Fine Democrat Yea
Linda Holmes Democrat Yea
Mark L. Walker Democrat Yea
Napoleon Harris III Democrat Yea
Robert F. Martwick Democrat Yea
Chris Balkema Republican Nay
Li Arellano, Jr. Republican Nay
Neil Anderson Republican Nay

Official roll call →

Subjects

finance labor education
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 SB2016      do?
Amends the School Code. Provides that, by July 1, 2027, the school board of each school district in the State that offers its employees a retirement savings plan established under Section 403(b) of the Internal Revenue Code of 1986 may enter into a contract with one or more vendors to provide participants with plan investments options. Provides that a vendor selected under after the effective date of the Act must be mutually agreed upon by the affected collective bargaining unit or units and the school board must ensure that the vendor follows the specified investment guidelines. Permits a specified vendor offering a plan to charge an investment advisory representative fee not to exceed 0.50% annually. Provides that, if a new vendor is chosen to administer a retirement saving plan that is offered by the specified school board of a school district, an employee of the school district may opt out of having the employee's individual 403(b) assets transferred to that new vendor. Limits applicability of the provisions to contracts entered into, extended, or renewed on or after the effective date of the Act.
Who sponsors SB2016     ?
SB2016      is sponsored by Karina Villa (Democrat), Robert F. Martwick (Democrat), Linda Holmes (Democrat), and Rachel Ventura (Democrat).
What is the current status of SB2016     ?
This bill has been introduced in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.
Where can I track SB2016     ?
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Last checked for changes 3 months ago · updated continuously

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