Legislation

Legislation

Please note: SURS does not endorse specific pension reform legislation. Our goal is to update and educate SURS members concerning legislation that may affect their retirement benefits.

SB 1264

RUUPA – Trailer Bill for Public Retirement Systems

SB 1264 amends the Revised Uniform Unclaimed Property Act to ensure that annuity, pension and benefit funds held in a fiduciary capacity by or on behalf of a retirement system, pension fund or investment board under the Illinois Pension Code remain in their respective trusts. SB 1264 also requires pension funds, retirement systems and investment boards created pursuant to Articles 3, 4 and 22...

SB 1265

SURS Technical Corrections Bill

SB 1265 is an initiative of SURS that makes three technical changes under Article 15 of the Illinois Pension Code.

First, SB 1265 amends the definition of an “employee” under Section 15-107 to mirror a change to the definition of an “employer” under Section 15-106 by Public Act 100-0611 (which allowed certain legacy employees within the newly created Department of Innovation and...

SB 1300

Pension Omnibus Bill

House Amendment #4 to SB 1300 removes the effective date of the bill, making the bill effective in accordance with the Effective Date of Laws Act.  HA #4 also requires the report on the accelerated pension benefit payment options to be due on or before December 1, 2020 (instead of December 1, 2019).

House Amendment #3 to SB 1300 contains several provisions amending the Illinois...

SB 1485

Racial Bias, Discrimination and Harassment Omnibus

SB 1485 amends the State Officials and Employees Ethics Act. It establishes that all persons have a right to work in an environment free from racial discrimination and harassment. All persons subject to the Act are prohibited from racially discriminating against or harassing any person, regardless of any employment relationship or lack thereof. Any person who violates the prohibition on...

SB 1505

Judges Keep Tier I Status

SB 1505 establishes that a person who participates in the Judges’ Retirement System prior to January 1, 2011, is deemed to be a person who first became a member or participant of the State Employees’ Retirement System, State Universities Retirement System, or Teachers’ Retirement System prior to January 1, 2011.

As it relates to SURS, under current law, a member the General Assembly...

SB 1671

Emerging Manager RFP Exemption

As it passed the Senate, SB 1671 amends the General Provisions article of the Illinois Pension Code to facilitate contracts with emerging investment managers.

Specifically, SB 1671 establishes that an “emerging investment manager” means a qualified investment adviser that manages an investment portfolio of at least $10 million but less than $20 billion at the time of the initial...

SB 1698

Public Retirement Systems Broadcast Open Meetings

SB 1698 requires certain public pension funds and retirement systems to broadcast and maintain audio and video of their open meetings in real-time on their websites.

Specifically, SB 1698 amends the General Provisions article of the Illinois Pension Code to require any open meeting of the board of trustees of a retirement system or pension fund or any committee thereof to be broadcast...

SB 1784

Public Retirement Systems – Personal Information Disclosures

HA #1 to SB 1784 amends the Freedom of Information Act and the Illinois Pension Code to generally prohibit the disclosure of the following information of members or participants of a pension fund or retirement system:

(1) The individual’s home address (including ZIP code and county);
(2) The individual’s date of birth;
(3) The individual’s home and personal phone number;...

SB 1814

Fiscal Year 2020 Budget Implementation Bill

House Amendment #1 to SB 1814 creates the FY 2020 Budget Implementation Act to make changes in state programs that are necessary to implement the state budget for fiscal year 2020.  It authorizes the use of moneys in the State Pensions Fund as part of the FY 2020 state contribution to SURS and makes two additional changes: (1) repeals the 3% Rule and reenacts the 6% Rule; and (2) it...

SB 1846

Veteran-Owned Businesses Utilization

As it relates to SURS, Senate Amendment #1 to SB 1846 makes technical changes.

SB 1846 requires public retirement systems, pension funds and investment boards to utilize veteran-owned businesses for certain contracts and services. 

Specifically, SB 1846 amends the General Provisions article of the Illinois Pension Code to add veteran-owned businesses to MWDBE utilization...

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