Illinois General Assembly - Bill Status for SB2090

Amends the Pension Impact Note Act. Requires that a pension impact note for legislation affecting downstate police and downstate firefighter pension funds must demonstrate the fiscal impact of the legislation on at least 25 municipalities with the pension funds. Amends the Illinois Pension Code. Makes changes concerning prohibited transactions by fiduciaries of a pension fund established under the Downstate Police or Downstate Firefighter Article (Article 3 or 4), examinations of pension funds, and witnesses and adds provisions concerning consulting services, prohibitions on gifts for members of a board of trustees of a pension fund established under Article 3 or 4, fraudulent claims for disability pensions by police officers and firefighters, award of benefits, publication of a notice regarding the fiscal status of a pension fund established under Article 3 or 4, and a report by the Commission on Government Forecasting and Accountability on pension funds established under Article 3 or 4. Makes other changes. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

Replaces everything after the enacting clause. Amends the Department of Regulation Law of the Civil Administrative Code of Illinois and the State Finance Act to prohibit transfers to the Professions Indirect Cost Fund from the Public Pension Regulation Fund. Amends the Pension Impact Note Act to provide that the pension impact note for any legislation or amendment that the Commission on Government Forecasting and Accountability determines would result in an increase in benefits or increased costs to a downstate police or fire pension fund may demonstrate the fiscal impact of the legislation on selected individual municipalities with such pension funds. Amends the Illinois Pension Code. Makes changes in provisions concerning fiduciaries of and investments by downstate police and fire pension funds. Prohibits a trustee of a downstate police or fire pension board from intentionally soliciting or accepting any gift from a prohibited source. Makes changes in provisions concerning annual reports submitted by downstate police and fire pension funds to the municipality. In the Downstate Police Article, adds provisions concerning the award of benefits and makes changes concerning examinations and investigations. In the Downstate Firefighter Article, adds provisions concerning fraud. Requires the Commission on Government Forecasting and Accountability to analyze data submitted by the Public Pension Division pertaining to downstate police and fire pension funds in each odd numbered year. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.

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