PENCD-DEFINED CONTRI PLANS House SponsorsRep. Kevin A. McCarthy-Michael J. Madigan-Karen May-Jack D. Franks-Linda Chapa LaVia and Keith Farnham 1/11/2011HouseSession Sine Die 40 ILCS 5/2-103.1 new40 ILCS 5/2-103.2 new40 ILCS 5/2-117.4 new40 ILCS 5/2-126from Ch. 108 1/2, par. 2-12640 ILCS 5/2-126.2 new40 ILCS 5/2-162.1 new Amends the Illinois Pension Code. Requires the General Assembly Retirement System to automatically enroll its newly eligible employees in a self-managed program of retirement benefits instead of the program of retirement benefits currently offered and allows currently eligible employees to elect to participate in the self-managed program. Provides that a self-managed plan shall authorize a participating employee to accumulate assets for retirement through a combination of employer and employee contributions that may be invested at the employee's direction in mutual funds, collective investment funds, or other investment products and used to purchase annuity contracts. Provides that, to the extent that the changes made by the amendatory Act are determined to be a new benefit increase, the changes are exempt from the 5-year expiration provision. Effective immediately.House Committee Amendment No. 1 Replaces everything after the enacting clause with the introduced bill with the following changes. Changes the definitions of "currently eligible participant" and "newly eligible participant" to provide that a person who first becomes a participant on the date on which the System first offers the self-managed plan is a newly eligible participant (and therefore automatically enrolled in the plan). Provides that the System may offer its participants an investment fund managed by the Illinois State Board of Investment (was, managed by the System). Requires the System to make the self-managed plan available by January 1, 2010. Makes changes concerning the opening account balance the System shall establish for the participant, the amount of State contributions to be credited to each self-managed plan participant, and the amount of repayment of distributions. 2/25/2009HouseFiled with the Clerk by Rep. Kevin A. McCarthy 2/25/2009HouseChief Co-Sponsor Rep. Michael J. Madigan 2/25/2009HouseFirst Reading 2/25/2009HouseReferred to Rules Committee 3/3/2009HouseAssigned to Personnel and Pensions Committee 3/10/2009HouseAdded Chief Co-Sponsor Rep. Karen May 3/11/2009HouseAdded Chief Co-Sponsor Rep. Jack D. Franks 3/11/2009HouseAdded Chief Co-Sponsor Rep. Linda Chapa LaVia 3/11/2009HouseAdded Co-Sponsor Rep. Keith Farnham 3/12/2009HouseHouse Committee Amendment No. 1 Filed with Clerk by Personnel and Pensions Committee 3/12/2009HouseHouse Committee Amendment No. 1 Adopted in Personnel and Pensions Committee; by Voice Vote 3/12/2009HouseDo Pass as Amended / Short Debate Personnel and Pensions Committee; 008-002-000 3/12/2009HousePlaced on Calendar 2nd Reading - Short Debate 4/1/2009HouseSecond Reading - Short Debate 4/1/2009HouseHeld on Calendar Order of Second Reading - Short Debate 4/3/2009HouseCommittee/3rd Reading Deadline Extended-Rule May 8, 2009 5/22/2009HouseFinal Action Deadline Extended-9(b) May 29, 2009 5/29/2009HouseFinal Action Deadline Extended-9(b) May 31, 2009 5/31/2009HouseRule 19(a) / Re-referred to Rules Committee 1/11/2011HouseSession Sine Die