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90_SB0666
40 ILCS 5/1-111 from Ch. 108 1/2, par. 1-111
Amends the General Provisions Article of the Illinois
Pension Code. Makes stylistic changes in a Section relating
to limitations on investments.
LRB9000604EGfg
LRB9000604EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 1-111.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 1-111 as follows:
7 (40 ILCS 5/1-111) (from Ch. 108 1/2, par. 1-111)
8 Sec. 1-111. Ten Per Cent Limitation on investment in of
9 employer securities. A plan may not acquire a security
10 issued by an employer of employees covered by the retirement
11 system or pension fund, if, as a result of the immediately
12 after such acquisition, the aggregate fair market value of
13 such employer securities held by the retirement system or
14 pension fund would exceed 10% per cent of the fair market
15 value of the assets of the retirement system or pension fund.
16 (Source: P.A. 81-948.)