Bill Status of SB1714 100th General Assembly
Short Description: PEN CD-CONSULTANT DISCLOSURES
Sen. James F. Clayborne, Jr.
| 3/9/2017||Senate||Placed on Calendar Order of 2nd Reading March 14, 2017|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the General Provisions Article of the Illinois Pension Code. Requires a consultant to annually disclose to the board of the retirement system, board of the pension fund, or the investment board that retains the consultant certain information concerning searches for investment services from minority owned businesses, female owned businesses, and businesses owned by persons with a disability. Requires a consultant to disclose any compensation or economic opportunity received in the last 24 months from investment advisors retained by the board of a retirement system, board of a pension fund, or investment board. Requires consideration of these disclosures before awarding a contract for consulting services. Effective immediately.