Illinois SB1455 amends the Deferred Compensation Article of the Illinois Pension Code to change how administrative expenses are recovered.
Illinois SB1455 amends the Deferred Compensation Article of the Illinois Pension Code. It changes the method for recovering administrative expenses of the deferred compensation plan. After January 1, 2026, these expenses will be recovered by charging fees equitably prorated among participating employers. This change replaces the current method of charging administrative expenses against the earnings from investments or by charging fees equitably prorated among participating State employees.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.