Illinois SB 1455: PEN CD-DEFERRED COMP-FEES

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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

SB1455LRB104 08299 RPS 18350 b

1 AN ACT concerning public employee benefits.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Pension Code is amended by 

5changing 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 

8January 1, 2026, the The Plan developed under Section 24-104 

9shall also provide for the recovery of the expenses of its 

10administration by charging such expenses against the earnings 

11from investments or by charging fees equitably prorated among 

12the participating State employees or by such other appropriate 

13and equitable method as the B