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SB1455 • 2026
PEN CD-DEFERRED COMP-FEES
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
PEN CD-DEFERRED COMP-FEES
These notes stay tied to the official amendment files and metadata from the legislature.
Plain English: Illinois General Assembly - Full Text of SB1455 Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience.
Rule 3-9(a) / Re-referred to Assignments
Approved for Consideration Assignments
Placed on Calendar Order of 3rd Reading April 15, 2026
Rule 3-9(a) / Re-referred to Assignments
Rule 2-10 Third Reading Deadline Established As June 1, 2025
Rule 2-10 Third Reading Deadline Established As May 23, 2025
Rule 2-10 Third Reading Deadline Established As May 9, 2025
Senate Floor Amendment No. 1 Recommend Do Adopt Pensions ; 008-001-000
Second Reading
Senate Floor Amendment No. 1 Adopted; Martwick
Placed on Calendar Order of 3rd Reading April 10, 2025
Senate Floor Amendment No. 1 Assignments Refers to Pensions
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
Senate Floor Amendment No. 1 Referred to Assignments
Do Pass Pensions ; 007-003-000
Placed on Calendar Order of 2nd Reading March 20, 2025
Assigned to Pensions
Filed with Secretary by Sen. Robert F. Martwick
First Reading
Referred to Assignments
PEN CD-DEFERRED COMP-FEES
Illinois General Assembly - Full Text of SB1455 Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. 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Full Text of SB1455 Home Legislation Full Text SB1455 - 104th General Assembly Bill Status Full Text Votes Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Senate Amendment 001 Printer Friendly Version Introduced Senate Amendment 001 Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 SB1455 Introduced 1/31/2025, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED: 40 ILCS 5/24-104.1 from Ch. 108 1/2, par. 24-104.1 30 ILCS 805/8.49 new Amends the Deferred Compensation Article of the Illinois Pension Code. Provides that, after January 1, 2026, the deferred compensation plan shall provide for the recovery of the expenses of its administration by charging fees equitably prorated among the participating employers (instead of by charging administrative expenses against the earnings from investments or by charging fees equitably prorated among the participating State employees or by such other appropriate and equitable method as the Illinois State Board of Investment shall determine). Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. LRB104 08299 RPS 18350 b STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT MAY APPLY A BILL FOR SB1455 LRB104 08299 RPS 18350 b 1 AN ACT concerning public employee benefits. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Pension Code is amended by 5 changing Section 24-104.1 as follows: 6 (40 ILCS 5/24-104.1) (from Ch. 108 1/2, par. 24-104.1) 7 Sec. 24-104.1. Recovery of administrative expenses. Until 8 January 1, 2026, the The Plan developed under Section 24-104 9 shall also provide for the recovery of the expenses of its 10 administration by charging such expenses against the earnings 11 from investments or by charging fees equitably prorated among 12 the participating State employees or by such other appropriate 13 and equitable method as the Board shall determine. After 14 January 1, 2026, the Plan developed under Section 24-104 shall 15 provide for the recovery of the expenses of its administration 16 by charging fees equitably prorated among the participating 17 employers. Different methods for recovery of administrative 18 expenses may be provided in relation to different types of 19 investment programs , and the Board may provide for the 20 allocation of administration expenses among varying types of 21 programs for this purpose. 22 All sums advanced by appropriation to the State Board of 23 Investment for the costs of the development and establishment SB1455 - 2 - LRB104 08299 RPS 18350 b 1 of the Plan shall be repaid to the State treasury Treasury not 2 later than June 30, 1986, without interest. The Plan shall 3 provide for such repayment and may, for that purpose, provide 4 for the recovery of the development and establishment costs by 5 amortizing them as a part of the administrative expenses of 6 the Plan over a period of years ending not later than June 30, 7 1986. 8 (Source: P.A. 79-384.) 9 Section 90. The State Mandates Act is amended by adding 10 Section 8.49 as follows: 11 (30 ILCS 805/8.49 new) 12 Sec. 8.49. Exempt mandate. Notwithstanding Sections 6 and 13 8 of this Act, no reimbursement by the State is required for 14 the implementation of any mandate created by this amendatory 15 Act of the 104th General Assembly. 16 Section 99. Effective date. This Act takes effect upon 17 becoming law. Footer Disclaimer This site is maintained for the Illinois General Assembly by the Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706. Contact ILGA Webmaster ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies. Read About Cookies ILGA.GOV 2026 ILGA.gov | All Rights Reserved | ADA | Disclaimers | Learn This site is maintained for the Illinois General Assembly by the Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706. Contact ILGA Webmaster ILGA.gov uses cookies to ensure you get the best experience on our website. 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