Illinois HB2117 amends the Illinois Pension Code to clarify and restrict prohibited transactions involving retirement systems, pension funds, and.
HB2117 amends the Illinois Pension Code to clarify and restrict prohibited transactions involving retirement systems, pension funds, and investment boards. It specifies that fiduciaries should not engage in transactions that benefit them personally or involve conflicts of interest. Violation of these provisions is classified as a Class 4 felony. The bill aims to protect the integrity of retirement and pension funds by ensuring that transactions are conducted in the best interest of the fund and its participants.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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