Bill Status of HB3634 101st General Assembly
Short Description: PEN CD-DNST POLICE-INVEST
Rep. William Davis
| 1/13/2021||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Provisions and Downstate Police Articles of the Illinois Pension Code. Removes provisions specifying, based on the net assets of the downstate police pension fund, types of investments that a downstate police pension fund may make. Removes certain limitations on the percentage of a downstate police pension fund's net assets that may be invested in certain types of investments. Provides that the board of a downstate police pension fund shall invest funds with the care, skill, prudence, and diligence that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of like character with like aims. Makes conforming changes. Effective immediately.