Illinois 96th Regular Session Status: Passed Senate

SB 2456 — PENSION-SURS/TRS-INVESTMENTS

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 96th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 and Downstate Teacher Articles of the Illinois Pension Code. Allows the board of trustees to transfer to the Illinois State Board of Investment, for management and administration, all investments owned by the system by resolution duly adopted by a record vote of three-fifths of its membership (rather than by a majority vote of its membership). Effective immediately.

Bill Text

What changed in the latest version

3 added · 24 removed

Plain-language change summary

The amendment to Bill SB 2456 changes the voting requirement for the board of trustees to transfer investments to the Illinois State Board of Investment from a simple majority to a three-fifths majority. This change is significant because it raises the threshold for making decisions about investment management, which could lead to more careful deliberation and consensus among board members before any transfers occur. It aims to enhance oversight and stability in how the pension funds are managed.

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*LRB09612667AMC26251b* SB2456 96TH GENERAL ASSEMBLY State of Illinois and 2010 SB2456 Introduced 5/14/2009, by Sen.
SB2456 Engrossed LRB096 12667 AMC 26251 b AN ACT concerning public employee benefits.
Jeffrey M.
Schoenberg SYNOPSIS AS INTRODUCED:
ILCS 5/15-167.1 from Ch.
108 1/2, par.
15-167.1 ILCS 5/16-179.1 from Ch.
108 1/2, par.
16-179.1 Amends the State Universities and Downstate Teacher Articles of the Illinois Pension Code.
Allows the board of trustees to transfer to the Illinois State Board of Investment, for management and administration, all investments owned by the system by resolution duly adopted by a record vote of three-fifths of its membership (rather than by a majority vote of its membership).
Effective immediately.
LRB096 12667 AMC 26251 b FISCAL NOTE ACT PENSION IMPACT MAY APPLY NOTE ACT MAY APPLY A BILL FOR SB2456 LRB096 12667 AMC 26251 b AN ACT concerning public employee benefits.
Thereafter, all investments of the reserves of the system shall be made by the Illinois State Board of Investment in accordance SB2456 - 2 - LRB096 12667 AMC 26251 b with Article 22A of this Code.
Thereafter, all investments of the reserves of the system shall be made by the Illinois State Board of Investment in accordance SB2456 Engrossed - 2 - LRB096 12667 AMC 26251 b with Article 22A of this Code.
Before such transfer an audit of such investments shall be completed by a certified public accountant selected by the SB2456 - 3 - LRB096 12667 AMC 26251 b Illinois State Board of Investment and approved by the Auditor General of the State of Illinois.
Before such transfer an audit of such investments shall be completed by a certified public accountant selected by the SB2456 Engrossed - 3 - LRB096 12667 AMC 26251 b Illinois State Board of Investment and approved by the Auditor General of the State of Illinois.
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Action History

  1. Session Sine Die

  2. Referred to Rules Committee

  3. First Reading

  4. Placed on Calendar Order of First Reading

  5. Chief House Sponsor Rep. Patrick J. Verschoore

  6. Arrived in House

  7. Third Reading - Passed; 057-000-000

  8. Added as Co-Sponsor Sen. Dale A. Righter

  9. Placed on Calendar Order of 3rd Reading March 2, 2010

  10. Second Reading

  11. Placed on Calendar Order of 2nd Reading February 25, 2010

  12. Do Pass Pensions and Investments; 009-000-000

  13. Added as Co-Sponsor Sen. Kyle McCarter

  14. Assigned to Pensions and Investments

  15. Referred to Assignments

  16. First Reading

  17. Filed with Secretary by Sen. Jeffrey M. Schoenberg

Sponsors

  • Jeffrey M. Schoenberg · Cosponsor

Sponsorship breakdown

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

Sponsors (0)

None.

Co-sponsors (1)

  • Jeffrey M. Schoenberg

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 57 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 47002
Democrat 9000
Republican 1000
Total 57002
% of votes cast 97%0%0%3%
How each member voted (59)
Member Party Vote
Haine — Yea
Muñoz — Yea
Hendon — Yea
Kotowski — Yea
Lauzen — Yea
McCarter — Yea
Meeks — Yea
Millner — Yea
Noland — Yea
Schoenberg — Yea
Steans — Yea
Trotter — Yea
Demuzio — Yea
Jacobs — Yea
Jones, J. — Yea
Brady — Yea
Sullivan — Yea
Clayborne — Yea
Dillard — Yea
Duffy — Yea
Forby — Yea
Frerichs — Yea
Garrett — Yea
Hutchinson — Yea
Link — Yea
Luechtefeld — Yea
Cullerton — Yea
Maloney — Yea
Viverito — Yea
Wilhelmi — Yea
Cronin — Yea
Crotty — Yea
Dahl — Yea
DeLeo — Not Voting
Hultgren — Yea
Pankau — Yea
Radogno — Yea
Raoul — Not Voting
Righter — Yea
Risinger — Yea
Rutherford — Yea
Sandoval — Yea
Silverstein — Yea
Althoff — Yea
Martinez — Yea
Bivins — Yea
Bomke — Yea
Bond — Yea
Burzynski — 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 2456 do?
Amends the State Universities and Downstate Teacher Articles of the Illinois Pension Code. Allows the board of trustees to transfer to the Illinois State Board of Investment, for management and administration, all investments owned by the system by resolution duly adopted by a record vote of three-fifths of its membership (rather than by a majority vote of its membership). Effective immediately.
Who sponsors SB 2456?
SB 2456 is sponsored by Jeffrey M. Schoenberg.
What is the current status of SB 2456?
This bill died with 96th 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 2456?
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Last checked for changes 3 months ago · updated continuously

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