Illinois General Assembly - Bill Status for HB0971

Amends the Illinois Pension Code. Provides that, if a downstate police or fire pension fund has net assets of $10,000,000 or more and if it uses the services of an investment management consultant or an investment manager, then the pension fund's total investment in the specified types of investments shall not exceed 50% of the market value of the pension fund's net present assets stated in its most recent annual report on file with the Division of Insurance of the Department of Financial and Professional Regulation. Provides that, if a downstate police or fire pension fund has net assets of less than $10,000,000 or if does not use the services of an investment management consultant or an investment manager, then the pension fund's total investment in those types of investment shall not exceed 35% of the market value of the pension fund's net present assets stated in its most recent annual report on file with the Division of Insurance of the Department of Financial and Professional Regulation.

×