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Amends the General Provisions Article of the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Pension Board Member Training Act. Provides that the Department of Insurance shall develop and implement a curriculum designed to provide pension board members with necessary education on specified topics, including legal and fiduciary responsibilities, investment strategies, ethical considerations, and actuarial assessments and reporting requirements. Provides that the curriculum shall be made available online to all pension board members. Requires every pension board member to complete the training provided by the Department on an annual basis. Provides that attendance at pension board meetings shall not be deemed to fulfill the annual training requirement. Sets forth provisions concerning definitions; Department responsibilities and rulemaking; and documentation.
Introduced
Jan 31, 2025
Last Action
Jul 2, 2025
Session
IL 104th
Sponsors
1 primary · 0 co
Senate Floor Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
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
Senate Floor Amendment No. 2 Assignments Refers to Pensions
Senate Floor Amendment No. 2 Referred to Assignments
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Robert F. Martwick
Rule 2-10 Third Reading Deadline Established As May 9, 2025
Senate Floor Amendment No. 1 Recommend Do Adopt Pensions; 009-000-000
Placed on Calendar Order of 3rd Reading April 9, 2025
Senate Floor Amendment No. 1 Assignments Refers to Pensions
Second Reading
Senate Floor Amendment No. 1 Referred to Assignments
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
Placed on Calendar Order of 2nd Reading March 20, 2025
Do Pass Pensions; 007-003-000
Assigned to Pensions
First Reading
Referred to Assignments
Filed with Secretary by Sen. Robert F. Martwick
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Senate Floor Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Robert F. Martwick