Illinois 104th General Assembly Status: Introduced 1 D cosponsors

SB2282      — FIDUCIARY OVERSIGHT ACT

Last action — Referred to Assignments

  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 07, 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

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

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

Summary

Creates the Fiduciary Oversight Agency Act. Establishes the Fiduciary Oversight Agency within the Department of Insurance. Provides that the Agency shall be responsible for monitoring the operations of all public sector retirement plans in Illinois, including pensions and supplemental retirement plans, to ensure compliance with State laws and fiduciary standards. Grants the Agency the authority to enforce compliance with fiduciary standards and Illinois laws relating to public sector retirement plans through administrative sanctions, penalties, and corrective orders; conduct audits, investigations, and reviews of retirement plans, plan administrators, and other fiduciaries to ensure compliance with State laws and fiduciary standards; and initiate civil or administrative proceedings to address violations of fiduciary standards and enforce corrective actions or penalties as appropriate. Establishes reporting requirements for the Agency.

Bill Text

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

Read SB2282 on the official Illinois source →

Action History

  1. Referred to Assignments

  2. First Reading

  3. Filed with Secretary by Sen. Robert F. Martwick

Sponsors

Sponsorship breakdown

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

Sponsors (1)

Co-sponsors (0)

None.

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

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 SB2282      do?
Creates the Fiduciary Oversight Agency Act. Establishes the Fiduciary Oversight Agency within the Department of Insurance. Provides that the Agency shall be responsible for monitoring the operations of all public sector retirement plans in Illinois, including pensions and supplemental retirement plans, to ensure compliance with State laws and fiduciary standards. Grants the Agency the authority to enforce compliance with fiduciary standards and Illinois laws relating to public sector retirement plans through administrative sanctions, penalties, and corrective orders; conduct audits, investigations, and reviews of retirement plans, plan administrators, and other fiduciaries to ensure compliance with State laws and fiduciary standards; and initiate civil or administrative proceedings to address violations of fiduciary standards and enforce corrective actions or penalties as appropriate. Establishes reporting requirements for the Agency.
Who sponsors SB2282     ?
SB2282      is sponsored by Robert F. Martwick (Democrat).
What is the current status of SB2282     ?
This bill has been introduced in the Senate. Introduced February 07, 2025. It must pass committee before a floor vote.
Where can I track SB2282     ?
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Last checked for changes 3 months ago · updated continuously

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