SB0018 amends the Illinois Pension Code to clarify and update prohibited transactions for fiduciaries.
SB0018 amends the Illinois Pension Code to update and clarify the list of prohibited transactions for fiduciaries of retirement systems, pension funds, and investment boards. The bill specifies that fiduciaries cannot engage in transactions that benefit them personally or that involve conflicts of interest. It also prohibits fiduciaries from causing the retirement system or pension fund to engage in certain transactions, such as those involving excessive security or unreasonably high rates of interest.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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