IL SB3278 | 2011-2012 | 97th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 3-0)
Status: Failed on January 8 2013 - 100% progression
Action: 2013-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Illinois Automatic IRA Program Act. Provides that the Illinois Automatic IRA Program shall be administered by the State Treasurer and that the Treasurer shall adopt regulations to implement the Program. Allows employees of certain employers that have not offered a qualified retirement plan for 2 years to set aside a percentage of their wages to be deposited into an IRA trust fund administered by the State Treasurer's office. Sets minimum requirements for the operation of the Program. Sets forth duties and authority of the State Treasurer in relation to the Program. Limits State and employer liability. Contains provisions regarding audits and reports. Effective immediately.
Title
ILLINOIS AUTOMATIC IRA ACT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2013-01-08 | Senate | Session Sine Die |
| 2012-02-23 | Senate | Added as Chief Co-Sponsor Sen. Jeffrey M. Schoenberg |
| 2012-02-16 | Senate | Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins |
| 2012-02-07 | Senate | Referred to Assignments |
| 2012-02-07 | Senate | First Reading |
| 2012-02-07 | Senate | Filed with Secretary by Sen. Iris Y. Martinez |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3278&GAID=11&DocTypeID=SB&SessionID=84&GA=97 |
| Text | https://www.ilga.gov/legislation/97/SB/09700SB3278.htm |
