Fabio
94 lines
5.3 KiB
Markdown
94 lines
5.3 KiB
Markdown
---
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type: "Bill"
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title: "SECURE CHOICE INVEST POLICY"
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description: "Amends the Illinois Secure Choice Savings Program Act. Provides that the total annual expenses, rather than the annual administrative expenses, shall not exceed 0.75% of the total trust balance. Removes a requirement that the Board prepare a statement of investment policy annually. Provides that the investment policy shall be published on the Board's or State Treasurer's website. Provides that small employers' use of automatic enrollment is subject to federal rules. Makes other changes. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "99th"
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identifier: "SB 2420"
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citation: "Illinois SB 2420 (99th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 34
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vote_count: 2
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first_action: "2016-02-09"
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last_action: "2016-07-15"
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source: "openstates"
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source_identifier: "ocd-bill/414aa2e8-00af-445b-a110-510efb0678b2"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2420&GAID=13&DocTypeID=SB&LegId=93946&SessionID=88&GA=99"
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source_hash: "4be7a22ca0445d81e25c7d4da1b9efa33872aa43c98b55adb9625cb1754ce9d5"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 2420 (99th) — SECURE CHOICE INVEST POLICY
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Amends the Illinois Secure Choice Savings Program Act. Provides that the total annual expenses, rather than the annual administrative expenses, shall not exceed 0.75% of the total trust balance. Removes a requirement that the Board prepare a statement of investment policy annually. Provides that the investment policy shall be published on the Board's or State Treasurer's website. Provides that small employers' use of automatic enrollment is subject to federal rules. Makes other changes. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB2420&GA=99&SessionId=88&DocTypeId=SB&LegID=93946&DocNum=2420&GAID=13&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB2420eng&GA=99&SessionId=88&DocTypeId=SB&LegID=93946&DocNum=2420&GAID=13&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB2420enr&GA=99&SessionId=88&DocTypeId=SB&LegID=93946&DocNum=2420&GAID=13&Session=&print=true)
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## Votes
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- Third Reading — **52–0** (pass) · upper
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- Third Reading — **113–0** (pass) · lower
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## Sponsors
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- Daniel Biss — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2016-02-09** Filed with Secretary by Sen. Daniel Biss `filing`
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- **2016-02-09** First Reading `reading-1`
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- **2016-02-09** Referred to Assignments `referral-committee`
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- **2016-02-17** Assigned to Executive `referral-committee`
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- **2016-03-02** Do Pass Executive; 012-003-000 `committee-passage`
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- **2016-03-02** Placed on Calendar Order of 2nd Reading March 3, 2016
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- **2016-03-03** Second Reading `reading-2`
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- **2016-03-03** Placed on Calendar Order of 3rd Reading March 8, 2016
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- **2016-04-12** Senate Floor Amendment No. 1 Filed with Secretary by Sen. Daniel Biss `amendment-introduction`
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- **2016-04-12** Senate Floor Amendment No. 1 Referred to Assignments `referral-committee`
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- **2016-04-13** Senate Floor Amendment No. 1 Assignments Refers to Executive
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- **2016-04-14** Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 012-000-000
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- **2016-04-19** Recalled to Second Reading `reading-2`
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- **2016-04-19** Senate Floor Amendment No. 1 Adopted; Biss `amendment-passage`
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- **2016-04-19** Placed on Calendar Order of 3rd Reading
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- **2016-04-19** Third Reading - Passed; 052-000-000 `reading-3, passage`
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- **2016-04-20** Arrived in House `introduction`
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- **2016-04-20** Chief House Sponsor Rep. Barbara Flynn Currie
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- **2016-04-20** First Reading `reading-1`
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- **2016-04-20** Referred to Rules Committee `referral-committee`
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- **2016-04-26** Assigned to Revenue & Finance Committee `referral-committee`
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- **2016-04-27** To Income Tax Subcommittee
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- **2016-05-05** Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000 `committee-passage`
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- **2016-05-05** Remains in Revenue & Finance Committee
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- **2016-05-05** Do Pass / Short Debate Revenue & Finance Committee; 010-000-000 `committee-passage`
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- **2016-05-05** Placed on Calendar 2nd Reading - Short Debate
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- **2016-05-10** Second Reading - Short Debate `reading-2`
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- **2016-05-10** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2016-05-11** Third Reading - Short Debate - Passed 113-000-000 `reading-3, passage`
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- **2016-05-11** Passed Both Houses
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- **2016-06-09** Sent to the Governor `executive-receipt`
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- **2016-07-15** Governor Approved `executive-signature`
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- **2016-07-15** Effective Date July 15, 2016
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- **2016-07-15** Public Act . . . . . . . . . 99-0571 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/414aa2e8-00af-445b-a110-510efb0678b2`. Confidence: reported (aggregated from official Illinois legislature records).
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