Amends the Illinois Pension Code to clarify and correct technical issues in the Section concerning prohibited transactions.
The bill amends the Illinois Pension Code to make a technical change in the Section concerning prohibited transactions. It ensures that fiduciaries of retirement systems, pension funds, or investment boards do not engage in certain transactions that could be detrimental to the interests of participants or beneficiaries. The bill also clarifies exceptions for trustees and board members, employees, or consultants, ensuring they do not benefit personally from transactions involving the retirement system or pension fund.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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